HighTower Advisors LLC Sells 12,613 Shares of The Western Union Company (NYSE:WU)

HighTower Advisors LLC lessened its stake in The Western Union Company (NYSE:WU) by 27.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,857 shares of the credit services provider’s stock after selling 12,613 shares during the period. HighTower Advisors LLC’s holdings in Western Union were worth $409,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of WU. Wealth Enhancement Advisory Services LLC raised its holdings in Western Union by 22.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 28,706 shares of the credit services provider’s stock valued at $351,000 after buying an additional 5,241 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new position in shares of Western Union during the second quarter valued at about $141,000. 1834 Investment Advisors Co. boosted its holdings in shares of Western Union by 43.0% during the second quarter. 1834 Investment Advisors Co. now owns 491,792 shares of the credit services provider’s stock worth $6,010,000 after purchasing an additional 147,806 shares during the period. OmniStar Financial Group Inc. grew its stake in shares of Western Union by 10.2% in the second quarter. OmniStar Financial Group Inc. now owns 60,618 shares of the credit services provider’s stock worth $741,000 after purchasing an additional 5,631 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Western Union by 3.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 75,366 shares of the credit services provider’s stock valued at $921,000 after purchasing an additional 2,163 shares during the period. 91.81% of the stock is currently owned by hedge funds and other institutional investors.

Western Union Stock Performance

NYSE:WU opened at $10.71 on Friday. The stock has a 50-day moving average price of $11.02 and a 200 day moving average price of $11.73. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 3.96. The Western Union Company has a 12-month low of $10.51 and a 12-month high of $14.19. The stock has a market capitalization of $3.62 billion, a P/E ratio of 5.49, a P/E/G ratio of 1.51 and a beta of 0.86.

Western Union (NYSE:WU) last released its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.46 EPS 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 business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business earned $0.43 earnings per share. Western Union’s quarterly revenue was down 5.6% compared to the same quarter last year. Equities research analysts forecast that The Western Union Company will post 1.77 EPS for the current fiscal year.

Western Union Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be given a dividend of $0.235 per share. The ex-dividend date is Monday, December 23rd. This represents a $0.94 annualized dividend and a yield of 8.78%. Western Union’s dividend payout ratio is presently 48.21%.

Western Union declared that its Board of Directors has approved a share buyback program on Friday, December 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to reacquire up to 27.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. StockNews.com upgraded Western Union from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods cut their price target on shares of Western Union from $13.00 to $12.00 and set a “market perform” rating on the stock in a report on Monday, December 9th. Barclays decreased their price objective on shares of Western Union from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Friday, December 13th. Finally, UBS Group cut 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. Three analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.63.

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.