Independence Bank of Kentucky Takes Position in The Western Union Company (NYSE:WU)

Independence Bank of Kentucky acquired a new position in The Western Union Company (NYSE:WU) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,650 shares of the credit services provider’s stock, valued at approximately $28,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. True Wealth Design LLC purchased a new position in shares of Western Union during the third quarter worth $25,000. R Squared Ltd purchased a new position in Western Union during the 4th quarter valued at about $25,000. Quarry LP grew its position in Western Union by 52.9% in the 2nd quarter. Quarry LP now owns 2,588 shares of the credit services provider’s stock valued at $32,000 after acquiring an additional 895 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Western Union by 89.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,226 shares of the credit services provider’s stock worth $39,000 after purchasing an additional 1,522 shares during the period. Finally, Tompkins Financial Corp acquired a new stake in shares of Western Union during the third quarter worth about $60,000. Institutional investors and hedge funds own 91.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on WU shares. Barclays dropped 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. StockNews.com raised Western Union from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods decreased their target price on Western Union from $13.00 to $12.00 and set a “market perform” rating for the company in a report on Monday, December 9th. Finally, UBS Group lowered their target price on Western Union from $13.50 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Two research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.63.

Western Union Price Performance

WU stock opened at $10.34 on Monday. 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 fifty-two week low of $10.17 and a fifty-two week high of $14.19. The business has a 50 day moving average price of $10.64 and a 200 day moving average price of $11.30. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 5.30, a PEG ratio of 1.40 and a beta of 0.85.

Western Union Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 9.09%. The ex-dividend date of this dividend was Monday, December 23rd. Western Union’s dividend payout ratio (DPR) is 48.21%.

Western Union declared that its board 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 reacquire up to 27.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.