BlackRock Inc. Has $794.76 Million Holdings in The Western Union Company (WU)

BlackRock Inc. decreased its stake in The Western Union Company (NYSE:WU) by 2.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,697,955 shares of the credit services provider’s stock after selling 1,226,781 shares during the quarter. BlackRock Inc. owned 9.42% of The Western Union worth $794,763,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of The Western Union by 53,019.7% during the third quarter. Bank of New York Mellon Corp now owns 29,221,152 shares of the credit services provider’s stock worth $556,956,000 after purchasing an additional 29,166,142 shares during the period. Jupiter Asset Management Ltd. raised its position in shares of The Western Union by 83.4% during the third quarter. Jupiter Asset Management Ltd. now owns 11,775,000 shares of the credit services provider’s stock worth $224,432,000 after purchasing an additional 5,353,000 shares during the period. WBI Investments Inc. acquired a new stake in shares of The Western Union during the second quarter worth about $40,412,000. Clarkston Capital Partners LLC raised its position in shares of The Western Union by 9.0% during the third quarter. Clarkston Capital Partners LLC now owns 10,403,376 shares of the credit services provider’s stock worth $198,288,000 after purchasing an additional 855,121 shares during the period. Finally, Worldquant Millennium Quantitative Strategies LLC acquired a new stake in shares of The Western Union during the second quarter worth about $15,446,000.

In related news, EVP Sheri Rhodes sold 2,175 shares of The Western Union stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $19.02, for a total value of $41,368.50. Following the sale, the executive vice president now owns 51,775 shares of the company’s stock, valued at approximately $984,760.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

A number of equities research analysts have recently commented on the company. Zacks Investment Research raised The Western Union from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th. ValuEngine lowered The Western Union from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Barclays assumed coverage on The Western Union in a research report on Wednesday, November 14th. They set an “underweight” rating and a $18.00 price target on the stock. Finally, Wells Fargo & Co lowered The Western Union from an “outperform” rating to a “market perform” rating and set a $20.00 price target on the stock. in a research report on Tuesday, November 6th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $18.83.

Shares of The Western Union stock opened at $18.73 on Monday. The Western Union Company has a 52-week low of $17.40 and a 52-week high of $22.21. The company has a market capitalization of $8.29 billion, a P/E ratio of 10.41, a PEG ratio of 2.28 and a beta of 1.01.

The Western Union (NYSE:WU) last announced its earnings results on Thursday, November 1st. The credit services provider reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.04. The Western Union had a negative return on equity of 194.60% and a negative net margin of 8.55%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the firm earned $0.53 EPS. The Western Union’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities analysts expect that The Western Union Company will post 1.92 earnings per share for the current year.

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About The Western Union

The Western Union Company provides money movement and payment services worldwide. The company operates in two segments, Consumer-to-Consumer and Business Solutions. The Consumer-to-Consumer segment facilitates money transfers between two consumers, primarily through a network of third-party agents. This segment offers international cross-border transfers and intra-country transfers, as well as money transfer transactions through Websites and mobile devices.

Read More: Leveraged Buyout (LBO) Explained

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

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