Skandinaviska Enskilda Banken AB publ Acquires 637,702 Shares of The Western Union Company (NYSE:WU)

Skandinaviska Enskilda Banken AB publ increased its holdings in shares of The Western Union Company (NYSE:WU) by 751.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 722,532 shares of the credit services provider’s stock after acquiring an additional 637,702 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.21% of Western Union worth $8,829,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of WU. MCF Advisors LLC purchased a new position in Western Union during the 1st quarter worth $30,000. Riverview Trust Co purchased a new position in Western Union during the 1st quarter worth $32,000. LRI Investments LLC purchased a new position in Western Union during the 1st quarter worth $37,000. Abich Financial Wealth Management LLC increased its holdings in Western Union by 59.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 3,292 shares of the credit services provider’s stock worth $46,000 after purchasing an additional 1,233 shares during the period. Finally, Mather Group LLC. purchased a new position in Western Union during the 1st quarter worth $103,000. 91.81% of the stock is owned by institutional investors.

Western Union Stock Up 0.6 %

Shares of WU stock opened at $11.74 on Friday. The Western Union Company has a 1-year low of $10.92 and a 1-year high of $14.19. The stock’s fifty day moving average price is $12.02 and its 200 day moving average price is $12.69. The company has a debt-to-equity ratio of 5.98, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 6.95, a price-to-earnings-growth ratio of 1.76 and a beta of 0.86.

Western Union (NYSE:WU) last issued its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). Western Union had a return on equity of 123.71% and a net margin of 13.64%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the firm posted $0.51 EPS. The business’s revenue was down 8.9% compared to the same quarter last year. On average, research analysts expect that The Western Union Company will post 1.77 earnings per share for the current fiscal year.

Western Union Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.235 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.94 dividend on an annualized basis and a yield of 8.01%. Western Union’s dividend payout ratio is currently 55.62%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on WU shares. JPMorgan Chase & Co. cut their price target on Western Union from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Tuesday, August 20th. Royal Bank of Canada cut their price target on Western Union from $16.00 to $14.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 31st. Citigroup reiterated a “neutral” rating and issued a $13.00 price target on shares of Western Union in a report on Wednesday, July 17th. Finally, StockNews.com upgraded Western Union from a “sell” rating to a “hold” rating in a report on Thursday, August 29th. Three investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, Western Union currently has an average rating of “Hold” and a consensus target price of $13.14.

Western Union Company Profile

The Western Union Company provides money movement and payment services worldwide. The company operates through Consumer Money Transfer and Consumer Services segments. The Consumer Money Transfer segment facilitates money transfers for international cross-border and intra-country transfers, primarily through a network of retail agent locations, as well as through websites and mobile devices.