Convergence Investment Partners LLC Acquires New Position in The Western Union Company (NYSE:WU)

Convergence Investment Partners LLC bought a new position in The Western Union Company (NYSE:WU - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 93,138 shares of the credit services provider's stock, valued at approximately $985,000.

Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in Western Union in the first quarter worth about $1,018,000. Integrated Advisors Network LLC acquired a new position in Western Union in the first quarter worth about $149,000. Asset Management One Co. Ltd. grew its stake in Western Union by 45.5% in the first quarter. Asset Management One Co. Ltd. now owns 68,622 shares of the credit services provider's stock worth $726,000 after purchasing an additional 21,456 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in Western Union by 10.9% in the fourth quarter. Orion Portfolio Solutions LLC now owns 68,237 shares of the credit services provider's stock worth $723,000 after purchasing an additional 6,727 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Western Union by 188.1% in the first quarter. GAMMA Investing LLC now owns 3,803 shares of the credit services provider's stock worth $40,000 after purchasing an additional 2,483 shares in the last quarter. 91.81% of the stock is owned by hedge funds and other institutional investors.

Western Union Price Performance

NYSE WU traded down $0.16 on Friday, reaching $8.59. The company's stock had a trading volume of 12,484,855 shares, compared to its average volume of 8,456,525. The firm has a market cap of $2.84 billion, a PE ratio of 3.20, a price-to-earnings-growth ratio of 1.48 and a beta of 0.65. The business has a 50-day moving average price of $8.84 and a 200 day moving average price of $9.81. The Western Union Company has a 52 week low of $7.99 and a 52 week high of $13.11. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 2.97.

Western Union (NYSE:WU - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The credit services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.40 by $0.01. Western Union had a net margin of 22.08% and a return on equity of 77.19%. The business had revenue of $983.60 million for the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the prior year, the firm earned $0.45 earnings per share. Western Union's revenue was down 6.2% compared to the same quarter last year. Sell-side analysts expect that The Western Union Company will post 1.79 EPS for the current year.

Western Union Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a dividend of $0.235 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.94 annualized dividend and a dividend yield of 10.95%. Western Union's dividend payout ratio (DPR) is currently 35.07%.

Analyst Ratings Changes

A number of brokerages have commented on WU. Monness Crespi & Hardt downgraded Western Union from a "neutral" rating to a "sell" rating and set a $7.50 target price for the company. in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft began coverage on Western Union in a research note on Thursday, July 17th. They issued a "hold" rating and a $9.00 target price for the company. JMP Securities restated a "market perform" rating on shares of Western Union in a research note on Thursday, April 24th. UBS Group restated a "neutral" rating and issued a $10.50 target price (down from $11.00) on shares of Western Union in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada cut their price target on Western Union from $14.00 to $13.00 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $10.33.

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.