Hartford Investment Management Co. Reduces Stake in The Western Union Company (WU)

Hartford Investment Management Co. lowered its stake in The Western Union Company (NYSE:WU) by 12.2% in the fourth quarter, Holdings Channel reports. The fund owned 59,215 shares of the credit services provider’s stock after selling 8,266 shares during the quarter. Hartford Investment Management Co.’s holdings in The Western Union were worth $1,010,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Community Financial Services Group LLC grew its position in shares of The Western Union by 16.6% during the 4th quarter. Community Financial Services Group LLC now owns 13,340 shares of the credit services provider’s stock worth $228,000 after buying an additional 1,895 shares during the period. M&T Bank Corp grew its position in shares of The Western Union by 3.1% during the 4th quarter. M&T Bank Corp now owns 33,892 shares of the credit services provider’s stock worth $578,000 after buying an additional 1,026 shares during the period. Grimes & Company Inc. grew its position in shares of The Western Union by 1.0% during the 4th quarter. Grimes & Company Inc. now owns 81,446 shares of the credit services provider’s stock worth $1,389,000 after buying an additional 827 shares during the period. TD Asset Management Inc. grew its position in shares of The Western Union by 16.7% during the 4th quarter. TD Asset Management Inc. now owns 263,210 shares of the credit services provider’s stock worth $4,490,000 after buying an additional 37,702 shares during the period. Finally, First Mercantile Trust Co. grew its position in shares of The Western Union by 50.2% during the 4th quarter. First Mercantile Trust Co. now owns 4,970 shares of the credit services provider’s stock worth $85,000 after buying an additional 1,660 shares during the period.

Several analysts have recently commented on the stock. Zacks Investment Research raised shares of The Western Union from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Saturday, December 1st. ValuEngine raised shares of The Western Union from a “sell” rating to a “hold” rating in a research report on Tuesday, December 11th. Keefe, Bruyette & Woods assumed coverage on shares of The Western Union in a research report on Thursday, December 6th. They set a “market perform” rating for the company. Barclays initiated coverage on shares of The Western Union in a research report on Wednesday, November 14th. They set an “underweight” rating and a $18.00 price objective for the company. Finally, Wells Fargo & Co cut The Western Union from an “outperform” rating to a “market perform” rating and set a $20.00 target price on the stock. in a report on Tuesday, November 6th. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The Western Union has an average rating of “Hold” and an average price target of $19.20.

In other news, CFO Rajesh K. Agrawal sold 21,950 shares of The Western Union stock in a transaction on Friday, February 1st. The stock was sold at an average price of $18.35, for a total transaction of $402,782.50. Following the sale, the chief financial officer now directly owns 266,009 shares in the company, valued at approximately $4,881,265.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roberto G. Mendoza sold 18,709 shares of The Western Union stock in a transaction on Friday, December 14th. The stock was sold at an average price of $18.14, for a total value of $339,381.26. Following the sale, the director now owns 78,597 shares in the company, valued at $1,425,749.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,099 shares of company stock worth $787,328. Company insiders own 1.10% of the company’s stock.

Shares of NYSE:WU opened at $17.99 on Wednesday. The Western Union Company has a 1-year low of $16.42 and a 1-year high of $21.37. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 9.37, a P/E/G ratio of 2.24 and a beta of 0.94.

The Western Union (NYSE:WU) last issued its quarterly earnings data on Thursday, February 7th. The credit services provider reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. The Western Union had a negative return on equity of 225.33% and a net margin of 15.24%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period last year, the business earned $0.47 EPS. The business’s revenue was down 2.6% on a year-over-year basis. On average, equities research analysts anticipate that The Western Union Company will post 1.88 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, March 14th. This is a boost from The Western Union’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 4.45%. The Western Union’s dividend payout ratio (DPR) is 39.58%.

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The Western Union Profile

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.

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

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