Oppenheimer Asset Management Inc. Cuts Stock Holdings in The Western Union Company (NYSE:WU)

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Oppenheimer Asset Management Inc. trimmed its stake in shares of The Western Union Company (NYSE:WU) by 12.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 81,732 shares of the credit services provider’s stock after selling 11,371 shares during the period. Oppenheimer Asset Management Inc.’s holdings in The Western Union were worth $1,482,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bartlett & Co. LLC bought a new position in The Western Union during the first quarter valued at $468,000. Tiedemann Advisors LLC bought a new position in The Western Union during the first quarter valued at $190,000. Lingohr & Partner Asset Management GmbH bought a new position in The Western Union during the first quarter valued at $261,000. AE Wealth Management LLC lifted its position in The Western Union by 87.3% during the first quarter. AE Wealth Management LLC now owns 26,109 shares of the credit services provider’s stock valued at $473,000 after purchasing an additional 12,167 shares during the last quarter. Finally, ING Groep NV lifted its position in The Western Union by 14.9% during the first quarter. ING Groep NV now owns 45,470 shares of the credit services provider’s stock valued at $824,000 after purchasing an additional 5,913 shares during the last quarter.

NYSE WU opened at $19.01 on Friday. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 7.67, a price-to-earnings-growth ratio of 0.44 and a beta of 0.89. The company’s 50-day simple moving average is $19.13 and its two-hundred day simple moving average is $23.99. The Western Union Company has a one year low of $17.39 and a one year high of $28.44.

The Western Union (NYSE:WU) last posted its earnings results on Tuesday, May 5th. The credit services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.22 billion. The Western Union had a net margin of 20.64% and a negative return on equity of 1,692.22%. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 EPS. As a group, equities research analysts expect that The Western Union Company will post 1.67 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend is Monday, June 15th. The Western Union’s dividend payout ratio (DPR) is 52.02%.

Several equities analysts have commented on the stock. BTIG Research reiterated a “buy” rating and set a $28.00 price objective on shares of The Western Union in a research report on Thursday. Wells Fargo & Co lowered shares of The Western Union from an “equal weight” rating to an “underweight” rating in a report on Sunday, April 19th. SunTrust Banks lowered their target price on shares of The Western Union from $27.00 to $18.00 and set a “hold” rating for the company in a report on Thursday, April 2nd. Deutsche Bank lowered their target price on shares of The Western Union from $28.00 to $20.00 and set a “hold” rating for the company in a report on Tuesday, March 31st. Finally, Northland Securities lowered their target price on shares of The Western Union from $17.00 to $15.00 and set a “market perform” rating for the company in a report on Monday, March 30th. Eight equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $21.71.

About The Western Union

The Western Union Company provides money movement and payment services worldwide. The company operates in two segments, Consumer-to-Consumer and Business Solutions. The Consumer-to-Consumer segment facilitates money transfers between two consumers, primarily through a network of third-party agents. This segment offers international cross-border transfers and intra-country transfers, as well as money transfer transactions through Websites and mobile devices.

Further Reading: Neutral Rating

Institutional Ownership by Quarter for The Western Union (NYSE:WU)

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