Skandinaviska Enskilda Banken AB publ Grows Position in The Western Union Company (NYSE:WU)

Skandinaviska Enskilda Banken AB publ raised its position in The Western Union Company (NYSE:WU) by 46.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 627,019 shares of the credit services provider’s stock after purchasing an additional 197,487 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.19% of Western Union worth $6,628,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WU. Foundry Partners LLC bought a new position in shares of Western Union in the third quarter worth about $8,124,000. Kingsview Wealth Management LLC grew its stake in Western Union by 293.3% in the 3rd quarter. Kingsview Wealth Management LLC now owns 198,002 shares of the credit services provider’s stock worth $2,362,000 after acquiring an additional 147,658 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Western Union by 20.0% during the third quarter. JPMorgan Chase & Co. now owns 1,698,559 shares of the credit services provider’s stock worth $20,264,000 after acquiring an additional 283,479 shares during the period. Citigroup Inc. raised its stake in shares of Western Union by 19.0% during the third quarter. Citigroup Inc. now owns 523,676 shares of the credit services provider’s stock valued at $6,247,000 after acquiring an additional 83,715 shares in the last quarter. Finally, Orion Portfolio Solutions LLC bought a new position in Western Union in the third quarter worth approximately $734,000. Institutional investors own 91.81% of the company’s stock.

Western Union Stock Up 1.5 %

NYSE:WU opened at $10.70 on Friday. The company’s 50 day moving average is $10.59 and its two-hundred day moving average is $11.05. The company has a market cap of $3.61 billion, a PE ratio of 3.92, a P/E/G ratio of 1.32 and a beta of 0.79. The Western Union Company has a twelve month low of $10.04 and a twelve month high of $14.00. The company has a current ratio of 1.20, a quick ratio of 1.10 and a debt-to-equity ratio of 3.04.

Western Union (NYSE:WU) last released its earnings results on Tuesday, February 4th. The credit services provider reported $0.40 earnings per share (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%. Analysts anticipate that The Western Union Company will post 1.79 EPS for the current year.

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

Western Union Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.235 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.94 dividend on an annualized basis and a yield of 8.79%. Western Union’s dividend payout ratio is currently 34.43%.

Analyst Ratings Changes

WU has been the subject of a number of research analyst reports. Susquehanna decreased their target price on Western Union from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Barclays lowered their price objective on shares of Western Union from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Friday, December 13th. Morgan Stanley cut their target price on shares of Western Union from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods lowered their price target on shares of Western Union from $13.00 to $12.00 and set a “market perform” rating for the company in a research report on Monday, December 9th. Finally, JMP Securities reissued a “market perform” rating on shares of Western Union in a research note on Thursday, February 6th. Three analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.11.

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.