The Western Union Company (NYSE:WU) is Jupiter Asset Management Ltd.’s 6th Largest Position

Jupiter Asset Management Ltd. cut its position in shares of The Western Union Company (NYSE:WU) by 30.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,628,118 shares of the credit services provider’s stock after selling 4,723,107 shares during the period. Western Union accounts for 1.2% of Jupiter Asset Management Ltd.’s holdings, making the stock its 6th biggest position. Jupiter Asset Management Ltd. owned about 3.15% of Western Union worth $129,876,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WU. MCF Advisors LLC purchased a new stake in shares of Western Union during the 1st quarter worth about $30,000. Riverview Trust Co purchased a new position in Western Union during the first quarter worth approximately $32,000. LRI Investments LLC acquired a new stake in Western Union in the first quarter valued at approximately $37,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Western Union in the first quarter valued at approximately $41,000. Finally, Abich Financial Wealth Management LLC raised its stake in shares of 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 buying an additional 1,233 shares during the period. Institutional investors and hedge funds own 91.81% of the company’s stock.

Western Union Stock Down 1.1 %

Shares of NYSE WU opened at $11.77 on Thursday. The stock has a market cap of $3.98 billion, a PE ratio of 6.96, a P/E/G ratio of 1.82 and a beta of 0.86. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 5.98. The Western Union Company has a 12-month low of $10.92 and a 12-month high of $14.19. The company has a 50-day moving average of $12.11 and a 200 day moving average of $12.78.

Western Union (NYSE:WU) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Western Union had a net margin of 13.64% and a return on equity of 123.71%. Western Union’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter last year, the company earned $0.51 earnings per share. As a group, sell-side analysts predict that The Western Union Company will post 1.77 EPS for the current fiscal year.

Western Union Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 7.99%. The ex-dividend date is Monday, September 16th. Western Union’s payout ratio is currently 55.62%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada dropped their price target on shares of Western Union from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 31st. StockNews.com raised shares of Western Union from a “sell” rating to a “hold” rating in a research note on Thursday, August 29th. Citigroup restated a “neutral” rating and set a $13.00 price target on shares of Western Union in a research report on Wednesday, July 17th. Finally, 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. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, Western Union has an average rating of “Hold” and an average target price of $13.14.

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.