Hsbc Holdings PLC Sells 352,297 Shares of The Western Union Company $WU

Hsbc Holdings PLC cut its holdings in The Western Union Company (NYSE:WU) by 67.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,492 shares of the credit services provider’s stock after selling 352,297 shares during the period. Hsbc Holdings PLC’s holdings in Western Union were worth $1,478,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of WU. Vanguard Group Inc. lifted its position in shares of Western Union by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 34,471,400 shares of the credit services provider’s stock worth $320,929,000 after buying an additional 1,171,810 shares during the last quarter. State Street Corp increased its holdings in shares of Western Union by 4.3% during the 4th quarter. State Street Corp now owns 13,984,472 shares of the credit services provider’s stock valued at $130,195,000 after acquiring an additional 580,264 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Western Union by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,081,062 shares of the credit services provider’s stock valued at $121,785,000 after acquiring an additional 624,397 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Western Union by 9.8% in the 4th quarter. AQR Capital Management LLC now owns 10,746,779 shares of the credit services provider’s stock valued at $99,891,000 after acquiring an additional 962,341 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in Western Union by 35.3% in the 4th quarter. Capital Research Global Investors now owns 10,407,960 shares of the credit services provider’s stock worth $96,898,000 after purchasing an additional 2,716,385 shares during the last quarter. 91.81% of the stock is owned by institutional investors and hedge funds.

Western Union Price Performance

Shares of NYSE:WU opened at $8.15 on Tuesday. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 6.00, a PEG ratio of 1.05 and a beta of 0.46. The business has a 50 day moving average price of $7.86 and a 200 day moving average price of $8.79. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.88. The Western Union Company has a twelve month low of $6.91 and a twelve month high of $10.35.

Western Union (NYSE:WU) last issued its quarterly earnings results on Friday, April 24th. The credit services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.15). Western Union had a return on equity of 55.94% and a net margin of 10.88%.The business had revenue of $963.50 million during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the firm earned $0.41 earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis. Research analysts predict that The Western Union Company will post 1.74 earnings per share for the current year.

Western Union Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid a $0.235 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $0.94 annualized dividend and a dividend yield of 11.5%. Western Union’s dividend payout ratio (DPR) is presently 69.12%.

Insider Activity

In related news, insider Benjamin Carlton Adams sold 19,924 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $9.23, for a total transaction of $183,898.52. Following the transaction, the insider owned 234,689 shares of the company’s stock, valued at approximately $2,166,179.47. The trade was a 7.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on WU. Cantor Fitzgerald decreased their target price on Western Union from $9.00 to $8.00 and set an “underweight” rating for the company in a research report on Wednesday, July 22nd. Citigroup reduced their price objective on shares of Western Union from $9.50 to $8.50 and set a “neutral” rating for the company in a research note on Friday, July 17th. Weiss Ratings downgraded shares of Western Union from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, June 5th. Barclays began coverage on shares of Western Union in a research note on Tuesday, July 7th. They issued an “underweight” rating and a $7.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of Western Union from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Monday, July 13th. Six investment analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $8.35.

Western Union Profile

Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. The company enables individuals and businesses to send and receive money through a variety of channels, including its vast agent network, online platforms, and mobile applications. Core services include person-to-person money transfers, business-to-business cross-border payments, bill payment services and prepaid card programs.

Through its digital offerings, Western Union provides customers with the ability to initiate transfers via its website and mobile app, as well as track transactions in real time.