Millennium Management LLC Sells 2,252,915 Shares of The Western Union Company (NYSE:WU)

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Millennium Management LLC reduced its stake in The Western Union Company (NYSE:WU) by 51.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,149,346 shares of the credit services provider’s stock after selling 2,252,915 shares during the period. Millennium Management LLC owned approximately 0.48% of The Western Union worth $43,696,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Teacher Retirement System of Texas lifted its stake in The Western Union by 208.9% during the 1st quarter. Teacher Retirement System of Texas now owns 391,435 shares of the credit services provider’s stock valued at $7,527,000 after acquiring an additional 264,713 shares in the last quarter. Private Advisor Group LLC bought a new position in The Western Union during the 1st quarter valued at $235,000. KBC Group NV lifted its stake in The Western Union by 21.0% during the 1st quarter. KBC Group NV now owns 805,864 shares of the credit services provider’s stock valued at $15,497,000 after acquiring an additional 139,897 shares in the last quarter. Northern Trust Corp lifted its stake in The Western Union by 0.3% during the 1st quarter. Northern Trust Corp now owns 7,391,403 shares of the credit services provider’s stock valued at $142,137,000 after acquiring an additional 22,514 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in The Western Union by 34.9% during the 1st quarter. BlackRock Inc. now owns 40,821,351 shares of the credit services provider’s stock valued at $784,995,000 after acquiring an additional 10,568,831 shares in the last quarter.

Several brokerages have weighed in on WU. Wolfe Research began coverage on The Western Union in a research note on Tuesday, July 17th. They set an “underperform” rating on the stock. Zacks Investment Research cut The Western Union from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Royal Bank of Canada restated a “hold” rating and set a $21.00 price objective on shares of The Western Union in a research note on Friday, August 3rd. Finally, ValuEngine cut The Western Union from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Six analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The stock has an average rating of “Sell” and a consensus price target of $18.92.

Shares of NYSE WU traded up $0.24 during mid-day trading on Friday, reaching $17.91. 5,119,213 shares of the company’s stock were exchanged, compared to its average volume of 4,988,594. The stock has a market capitalization of $8.52 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 2.41 and a beta of 0.95. The Western Union Company has a 52 week low of $17.57 and a 52 week high of $22.21. The company has a debt-to-equity ratio of -7.38, a current ratio of 0.86 and a quick ratio of 0.86.

The Western Union (NYSE:WU) last released its earnings results on Thursday, August 2nd. The credit services provider reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.01). The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. The Western Union had a negative return on equity of 560.31% and a negative net margin of 8.05%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share. Research analysts expect that The Western Union Company will post 1.86 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date was Thursday, September 13th. The Western Union’s payout ratio is 42.22%.

The Western Union Profile

The Western Union Company provides money movement and payment services worldwide. The company operates in two segments, Consumer-to-Consumer and Business Solutions. The Consumer-to-Consumer segment facilitates money transfers between two consumers, primarily through a network of third-party agents. This segment offers international cross-border transfers and intra-country transfers, as well as money transfer transactions through Websites and mobile devices.

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Institutional Ownership by Quarter for The Western Union (NYSE:WU)

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