CIBC Asset Management Inc Makes New $120,000 Investment in The Western Union Company (NYSE:WU)

CIBC Asset Management Inc bought a new stake in shares of The Western Union Company (NYSE:WU) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,065 shares of the credit services provider’s stock, valued at approximately $120,000.

Several other institutional investors and hedge funds have also recently modified their holdings of WU. Plato Investment Management Ltd grew its stake in Western Union by 12.9% in the 3rd quarter. Plato Investment Management Ltd now owns 13,177 shares of the credit services provider’s stock valued at $157,000 after acquiring an additional 1,508 shares during the period. GSA Capital Partners LLP grew its position in shares of Western Union by 185.3% in the third quarter. GSA Capital Partners LLP now owns 36,295 shares of the credit services provider’s stock valued at $433,000 after purchasing an additional 23,574 shares during the period. State of New Jersey Common Pension Fund D increased its stake in shares of Western Union by 16.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 165,990 shares of the credit services provider’s stock worth $1,980,000 after purchasing an additional 23,746 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Western Union by 4.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 480,146 shares of the credit services provider’s stock worth $5,728,000 after purchasing an additional 21,500 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Western Union by 15.2% in the 3rd quarter. Covestor Ltd now owns 15,961 shares of the credit services provider’s stock valued at $191,000 after buying an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 91.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. JPMorgan Chase & Co. cut their price objective on Western Union from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Tuesday, August 20th. StockNews.com raised Western Union from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. UBS Group lowered their target price on shares of Western Union from $13.50 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Finally, Royal Bank of Canada reduced their target price on shares of Western Union from $16.00 to $14.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.86.

Western Union Stock Up 1.8 %

NYSE WU opened at $11.06 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 3.96. The Western Union Company has a 52 week low of $10.51 and a 52 week high of $14.19. The business’s fifty day simple moving average is $11.38 and its 200-day simple moving average is $12.03. The firm has a market cap of $3.74 billion, a PE ratio of 5.67, a P/E/G ratio of 1.52 and a beta of 0.87.

Western Union (NYSE:WU) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.02. Western Union had a net margin of 16.07% and a return on equity of 120.39%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business posted $0.43 EPS. Western Union’s revenue was down 5.6% on a year-over-year basis. As a group, equities analysts anticipate that The Western Union Company will post 1.77 earnings per share for the current year.

Western Union 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.