Truist Financial Corp Decreases Stake in The Western Union Company (NYSE:WU)

Truist Financial Corp lowered its position in The Western Union Company (NYSE:WU) by 9.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 20,198 shares of the credit services provider’s stock after selling 2,064 shares during the period. Truist Financial Corp’s holdings in Western Union were worth $214,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Foundry Partners LLC acquired a new stake in shares of Western Union in the 3rd quarter worth $8,124,000. Kingsview Wealth Management LLC increased its stake in shares of Western Union by 293.3% in the 3rd quarter. Kingsview Wealth Management LLC now owns 198,002 shares of the credit services provider’s stock worth $2,362,000 after acquiring an additional 147,658 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Western Union by 20.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,698,559 shares of the credit services provider’s stock worth $20,264,000 after purchasing an additional 283,479 shares during the last quarter. Citigroup Inc. increased its position in shares of Western Union by 19.0% during the 3rd quarter. Citigroup Inc. now owns 523,676 shares of the credit services provider’s stock worth $6,247,000 after purchasing an additional 83,715 shares during the last quarter. Finally, Orion Portfolio Solutions LLC acquired a new stake in shares of Western Union during the 3rd quarter worth about $734,000. 91.81% of the stock is owned by institutional investors and hedge funds.

Western Union Stock Performance

Shares of WU opened at $11.06 on Friday. The stock has a 50-day simple moving average of $10.54 and a 200-day simple moving average of $11.09. The company has a debt-to-equity ratio of 3.04, a quick ratio of 1.10 and a current ratio of 1.20. The stock has a market capitalization of $3.74 billion, a PE ratio of 4.05, a PEG ratio of 1.32 and a beta of 0.85. The Western Union Company has a 1 year low of $10.04 and a 1 year high of $14.19.

Western Union (NYSE:WU) last announced its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.02). Western Union had a net margin of 22.19% and a return on equity of 96.90%. On average, analysts predict that The Western Union Company will post 1.79 earnings per share for the current fiscal year.

Western Union Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 8.50%. The ex-dividend date of this dividend is Monday, March 17th. Western Union’s payout ratio is presently 34.43%.

Western Union declared that its Board of Directors has initiated a stock repurchase plan on Friday, December 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the credit services provider to buy up to 27.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WU. JMP Securities reissued a “market perform” rating on shares of Western Union in a research report on Thursday, February 6th. Susquehanna cut their price objective on Western Union from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Barclays cut their price objective on Western Union from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Friday, December 13th. Morgan Stanley cut their price objective on Western Union from $10.00 to $9.00 and set an “underweight” rating for the company in a research report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods cut their price objective on Western Union from $13.00 to $12.00 and set a “market perform” rating for the company in a research report on Monday, December 9th. Three research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.11.

About Western Union

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.