Western Union (NYSE:WU) Given Market Perform Rating at JMP Securities

JMP Securities restated their market perform rating on shares of Western Union (NYSE:WU) in a report released on Thursday morning,Benzinga reports.

A number of other research firms have also recently commented on WU. Morgan Stanley lowered their target price on Western Union from $10.00 to $9.00 and set an “underweight” rating on the stock in a research note on Wednesday. Barclays lowered their price objective on shares of Western Union from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Friday, December 13th. Susquehanna reduced their target price on shares of Western Union from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday. UBS Group lowered their price target on shares of Western Union from $13.50 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Finally, StockNews.com raised Western Union from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Three research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.20.

Western Union Stock Up 1.8 %

WU opened at $11.21 on Thursday. Western Union has a fifty-two week low of $10.04 and a fifty-two week high of $14.19. The firm has a market capitalization of $3.79 billion, a P/E ratio of 5.75, a PEG ratio of 1.40 and a beta of 0.85. The company’s 50-day moving average is $10.61 and its 200 day moving average is $11.27. The company has a debt-to-equity ratio of 3.96, a current ratio of 1.10 and a quick ratio of 1.10.

Western Union (NYSE:WU) last posted its earnings results on Tuesday, February 4th. The credit services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.02). Western Union had a return on equity of 120.39% and a net margin of 16.07%. Research analysts expect that Western Union will post 1.77 earnings per share for the current fiscal year.

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

Western Union Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.235 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.94 annualized dividend and a dividend yield of 8.39%. Western Union’s payout ratio is currently 48.21%.

Institutional Investors Weigh In On Western Union

A number of institutional investors have recently made changes to their positions in WU. True Wealth Design LLC purchased a new position in shares of Western Union during the third quarter valued at approximately $25,000. R Squared Ltd purchased a new position in Western Union during the fourth quarter valued at $25,000. Independence Bank of Kentucky purchased a new position in Western Union during the 4th quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. boosted 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 acquiring an additional 1,522 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB grew its holdings in Western Union by 1,734.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,862 shares of the credit services provider’s stock worth $52,000 after purchasing an additional 4,597 shares during the period. Hedge funds and other institutional investors own 91.81% of the company’s stock.

Western Union Company 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.