Comerica Bank Has $1.06 Million Stock Position in The Western Union Company $WU

Key Points

• Comerica Bank reduced its stake in The Western Union Company by 62.7%, leaving it with approximately $1.06 million in holdings after selling over 168,000 shares in the first quarter.
• Western Union's stock ratings are mixed, with seven analystsfive$8.61.
• Western Union recently declared a quarterly dividend of $0.235 per share, which translates to an annual yield of 10.6%.

Comerica Bank trimmed its position in The Western Union Company (NYSE:WU - Free Report) by 62.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,197 shares of the credit services provider's stock after selling 168,117 shares during the quarter. Comerica Bank's holdings in Western Union were worth $1,060,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WU. Brickwood Asset Management LLP acquired a new stake in Western Union in the fourth quarter worth about $31,177,000. Meridiem Capital Partners LP acquired a new stake in Western Union in the fourth quarter worth about $16,347,000. Voloridge Investment Management LLC increased its position in Western Union by 151.1% in the fourth quarter. Voloridge Investment Management LLC now owns 2,459,038 shares of the credit services provider's stock worth $26,066,000 after purchasing an additional 1,479,751 shares during the period. D. E. Shaw & Co. Inc. increased its position in Western Union by 496.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,749,709 shares of the credit services provider's stock worth $18,547,000 after purchasing an additional 1,456,535 shares during the period. Finally, Schwartz Investment Counsel Inc. bought a new position in Western Union during the first quarter worth about $14,548,000. 91.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on WU. Monness Crespi & Hardt reduced their target price on Western Union from $7.50 to $7.00 and set a "sell" rating on the stock in a report on Tuesday, July 29th. JPMorgan Chase & Co. set a $10.00 target price on Western Union in a report on Tuesday, July 29th. Zacks Research upgraded Western Union to a "strong sell" rating in a report on Monday, August 11th. Oppenheimer began coverage on Western Union in a report on Monday, June 2nd. They set a "market perform" rating on the stock. Finally, Keefe, Bruyette & Woods reduced their target price on Western Union from $11.00 to $10.00 and set a "market perform" rating on the stock in a report on Tuesday, July 29th. Seven investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $8.61.

Insider Buying and Selling

In other news, CEO Devin Mcgranahan bought 176,470 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The shares were acquired at an average price of $8.49 per share, with a total value of $1,498,230.30. Following the transaction, the chief executive officer owned 913,125 shares in the company, valued at $7,752,431.25. This represents a 23.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew Cagwin bought 17,500 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average cost of $8.36 per share, for a total transaction of $146,300.00. Following the transaction, the chief financial officer owned 225,611 shares in the company, valued at $1,886,107.96. The trade was a 8.41% increase in their position. The disclosure for this purchase can be found here. 1.58% of the stock is currently owned by company insiders.

Western Union Trading Up 1.4%

NYSE:WU opened at $8.85 on Friday. The Western Union Company has a fifty-two week low of $7.89 and a fifty-two week high of $12.40. The company has a debt-to-equity ratio of 3.11, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a market capitalization of $2.86 billion, a PE ratio of 3.35, a price-to-earnings-growth ratio of 2.99 and a beta of 0.64. The business's 50-day simple moving average is $8.42 and its 200-day simple moving average is $9.38.

Western Union (NYSE:WU - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The credit services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). Western Union had a net margin of 21.83% and a return on equity of 66.11%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm earned $0.44 EPS. The company's revenue for the quarter was down 3.8% on a year-over-year basis. Western Union has set its FY 2025 guidance at 1.650-1.750 EPS. Sell-side analysts expect that The Western Union Company will post 1.79 earnings per share for the current fiscal year.

Western Union Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 10.6%. The ex-dividend date of this dividend is Tuesday, September 16th. Western Union's dividend payout ratio (DPR) is currently 35.61%.

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.

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