The Western Union Company (NYSE:WU) Shares Sold by Essex Financial Services Inc.

Essex Financial Services Inc. trimmed its position in The Western Union Company (NYSE:WU) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,969 shares of the credit services provider’s stock after selling 1,465 shares during the period. Essex Financial Services Inc.’s holdings in Western Union were worth $508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its stake in Western Union by 2.2% during the 4th quarter. Pacer Advisors Inc. now owns 50,387 shares of the credit services provider’s stock valued at $534,000 after purchasing an additional 1,072 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Western Union by 0.5% during the third quarter. State of Alaska Department of Revenue now owns 238,876 shares of the credit services provider’s stock worth $2,849,000 after purchasing an additional 1,205 shares during the period. Tidal Investments LLC boosted its position in Western Union by 1.4% in the third quarter. Tidal Investments LLC now owns 88,410 shares of the credit services provider’s stock valued at $1,055,000 after buying an additional 1,230 shares during the last quarter. Plato Investment Management Ltd increased its holdings in Western Union by 12.9% in the 3rd quarter. Plato Investment Management Ltd now owns 13,177 shares of the credit services provider’s stock worth $157,000 after buying an additional 1,508 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in Western Union by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 61,606 shares of the credit services provider’s stock worth $653,000 after buying an additional 1,560 shares during the last quarter. Hedge funds and other institutional investors own 91.81% of the company’s stock.

Wall Street Analysts Forecast Growth

WU has been the topic of several recent research reports. UBS Group dropped their price objective 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. JMP Securities reaffirmed a “market perform” rating on shares of Western Union in a report on Thursday, February 6th. Barclays reduced their price objective on Western Union from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Friday, December 13th. Susquehanna decreased their price objective on Western Union from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods dropped their target price on Western Union from $13.00 to $12.00 and set a “market perform” rating on the stock in a report on Monday, December 9th. Three 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 stock has an average rating of “Hold” and an average price target of $12.11.

Western Union Price Performance

NYSE:WU opened at $10.25 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.20 and a debt-to-equity ratio of 3.04. The Western Union Company has a 52 week low of $10.04 and a 52 week high of $14.19. The stock’s 50-day moving average price is $10.58 and its 200-day moving average price is $11.21. The stock has a market capitalization of $3.46 billion, a PE ratio of 3.75, a price-to-earnings-growth ratio of 1.54 and a beta of 0.85.

Western Union (NYSE:WU) last issued its quarterly earnings data 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 net margin of 22.19% and a return on equity of 96.90%. As a group, equities analysts expect that The Western Union Company will post 1.8 EPS for the current fiscal year.

Western Union Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 9.17%. The ex-dividend date is Monday, March 17th. Western Union’s payout ratio is presently 34.43%.

Western Union announced that its Board of Directors has initiated a stock buyback plan on Friday, December 13th that authorizes the company to repurchase $1.00 billion in outstanding 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 typically an indication that the company’s leadership believes its shares are 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.