Ieq Capital LLC Increases Holdings in The Western Union Company (NYSE:WU)

Ieq Capital LLC increased its holdings in shares of The Western Union Company (NYSE:WU) by 603.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 314,892 shares of the credit services provider’s stock after purchasing an additional 270,111 shares during the period. Ieq Capital LLC owned 0.09% of Western Union worth $3,338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Alberta Investment Management Corp purchased a new stake in Western Union during the 4th quarter worth $218,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Western Union during the 4th quarter worth $207,000. Kestra Investment Management LLC boosted its position in Western Union by 50.6% during the 4th quarter. Kestra Investment Management LLC now owns 122,956 shares of the credit services provider’s stock worth $1,303,000 after purchasing an additional 41,317 shares during the period. D.A. Davidson & CO. boosted its position in Western Union by 3.5% during the 4th quarter. D.A. Davidson & CO. now owns 45,825 shares of the credit services provider’s stock worth $486,000 after purchasing an additional 1,565 shares during the period. Finally, Sanctuary Advisors LLC lifted its holdings in Western Union by 17.0% in the 4th quarter. Sanctuary Advisors LLC now owns 32,761 shares of the credit services provider’s stock worth $341,000 after buying an additional 4,752 shares in the last quarter. 91.81% of the stock is owned by hedge funds and other institutional investors.

Western Union Stock Performance

Shares of Western Union stock opened at $10.63 on Friday. The firm has a market cap of $3.59 billion, a PE ratio of 3.89, a price-to-earnings-growth ratio of 1.32 and a beta of 0.85. The firm’s 50-day simple moving average is $10.54 and its 200-day simple moving average is $11.14. The company has a debt-to-equity ratio of 3.04, a quick ratio of 1.10 and a current ratio of 1.20. The Western Union Company has a 1 year low of $10.04 and a 1 year high of $14.19.

Western Union (NYSE:WU) last issued its earnings results on Tuesday, February 4th. The credit services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). Western Union had a net margin of 22.19% and a return on equity of 96.90%. Equities analysts forecast that The Western Union Company will post 1.79 earnings per share for the current fiscal year.

Western Union announced that its board has authorized a stock repurchase program on Friday, December 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the credit services provider to buy up to 27.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Western Union Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.235 per share. The ex-dividend date is Monday, March 17th. This represents a $0.94 annualized dividend and a yield of 8.84%. Western Union’s dividend payout ratio (DPR) is 34.43%.

Analysts Set New Price Targets

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

About Western Union

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.