First Manhattan Co. Has $34.88 Million Stake in Western Union Company (The) (NYSE:WU)

First Manhattan Co. reduced its stake in shares of Western Union Company (The) (NYSE:WU) by 0.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,830,951 shares of the credit services provider’s stock after selling 13,731 shares during the period. First Manhattan Co. owned 0.39% of Western Union Company (The) worth $34,879,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Whittier Trust Co. boosted its position in shares of Western Union Company (The) by 6.1% in the first quarter. Whittier Trust Co. now owns 4,992 shares of the credit services provider’s stock valued at $102,000 after buying an additional 288 shares during the last quarter. Financial Architects Inc boosted its position in shares of Western Union Company (The) by 2.1% in the second quarter. Financial Architects Inc now owns 6,951 shares of the credit services provider’s stock valued at $132,000 after buying an additional 144 shares during the last quarter. Pacer Advisors Inc. boosted its position in Western Union Company (The) by 3.1% in the first quarter. Pacer Advisors Inc. now owns 7,482 shares of the credit services provider’s stock valued at $152,000 after buying an additional 224 shares in the last quarter. Van ECK Associates Corp boosted its position in Western Union Company (The) by 6.8% in the first quarter. Van ECK Associates Corp now owns 7,521 shares of the credit services provider’s stock valued at $153,000 after buying an additional 477 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd purchased a new position in Western Union Company (The) during the first quarter valued at approximately $154,000.

Shares of Western Union Company (NYSE:WU) opened at 18.88 on Friday. The stock has a 50 day moving average of $19.17 and a 200 day moving average of $19.49. Western Union Company has a 12-month low of $18.42 and a 12-month high of $22.70. The company has a market cap of $8.76 billion, a price-to-earnings ratio of 48.53 and a beta of 1.19.

Western Union Company (The) (NYSE:WU) last issued its earnings results on Thursday, August 3rd. The credit services provider reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.08. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Western Union Company (The) had a net margin of 3.50% and a return on equity of 92.41%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 earnings per share. Analysts forecast that Western Union Company will post $1.77 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.175 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.70 annualized dividend and a yield of 3.71%. Western Union Company (The)’s dividend payout ratio (DPR) is 179.49%.

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A number of research firms recently commented on WU. Stifel Nicolaus reaffirmed a “hold” rating and issued a $20.00 price target (up previously from $19.00) on shares of Western Union Company (The) in a report on Wednesday, August 9th. Barclays PLC boosted their price target on shares of Western Union Company (The) from $21.00 to $22.00 and gave the company an “underweight” rating in a research report on Friday, August 4th. BidaskClub downgraded shares of Western Union Company (The) from a “hold” rating to a “sell” rating in a research note on Friday, June 9th. Zacks Investment Research raised shares of Western Union Company (The) from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Tuesday, May 2nd. Finally, TheStreet upgraded shares of Western Union Company (The) from a “c” rating to a “b-” rating in a research report on Tuesday, May 2nd. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Western Union Company (The) currently has an average rating of “Hold” and a consensus price target of $20.27.

In related news, EVP John David Thompson sold 23,500 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $20.12, for a total value of $472,820.00. Following the sale, the executive vice president now owns 129,650 shares of the company’s stock, valued at $2,608,558. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by company insiders.

About Western Union Company (The)

The Western Union Company (Western Union) is a provider of money movement and payment services. The Company operates through three segments: Consumer-to-Consumer, Consumer-to-Business and Business Solutions. The Company’s Consumer-to-Consumer segment facilitates money transfers between two consumers, primarily through a network of third-party agents.

Institutional Ownership by Quarter for Western Union Company (The) (NYSE:WU)

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