SummitTX Capital L.P. Purchases 223,154 Shares of The Western Union Company $WU

SummitTX Capital L.P. increased its position in shares of The Western Union Company (NYSE:WU) by 86.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 480,458 shares of the credit services provider’s stock after buying an additional 223,154 shares during the period. SummitTX Capital L.P.’s holdings in Western Union were worth $4,194,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB lifted its position in Western Union by 606.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 3,265 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 2,803 shares during the last quarter. Ascentis Independent Advisors acquired a new stake in shares of Western Union in the first quarter valued at about $30,000. Salomon & Ludwin LLC increased its stake in shares of Western Union by 1,546.5% in the fourth quarter. Salomon & Ludwin LLC now owns 3,326 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 3,124 shares during the period. Fifth Third Bancorp lifted its position in shares of Western Union by 67.0% during the 4th quarter. Fifth Third Bancorp now owns 3,331 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 1,336 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Western Union by 179.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,341 shares of the credit services provider’s stock valued at $31,000 after purchasing an additional 2,146 shares during the period. 91.81% of the stock is currently owned by institutional investors and hedge funds.

Western Union Price Performance

NYSE:WU opened at $8.15 on Tuesday. The company has a 50-day moving average of $7.86 and a 200-day moving average of $8.79. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 6.00, a PEG ratio of 1.05 and a beta of 0.46. The Western Union Company has a 52 week low of $6.91 and a 52 week high of $10.35. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.11 and a current ratio of 1.11.

Western Union (NYSE:WU) last posted its earnings results on Friday, April 24th. The credit services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.15). Western Union had a net margin of 10.88% and a return on equity of 55.94%. The business had revenue of $963.50 million during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm earned $0.41 EPS. The business’s revenue was down .1% compared to the same quarter last year. As a group, equities research analysts anticipate that The Western Union Company will post 1.74 earnings per share for the current fiscal year.

Western Union Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.235 per share. The ex-dividend date was Tuesday, June 16th. This represents a $0.94 dividend on an annualized basis and a yield of 11.5%. Western Union’s dividend payout ratio (DPR) is currently 69.12%.

Analysts Set New Price Targets

Several research analysts have commented on WU shares. Weiss Ratings downgraded Western Union from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 5th. JPMorgan Chase & Co. reduced their price objective on Western Union from $9.00 to $8.00 and set an “underweight” rating for the company in a research report on Monday, July 13th. Citigroup dropped their target price on shares of Western Union from $9.50 to $8.50 and set a “neutral” rating on the stock in a research report on Friday, July 17th. Barclays assumed coverage on shares of Western Union in a research note on Tuesday, July 7th. They set an “underweight” rating and a $7.00 target price for the company. Finally, Cantor Fitzgerald reduced their price target on shares of Western Union from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Wednesday, July 22nd. Six research analysts have rated the stock with a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $8.35.

Insiders Place Their Bets

In other news, insider Benjamin Carlton Adams sold 19,924 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $9.23, for a total value of $183,898.52. Following the sale, the insider directly owned 234,689 shares in the company, valued at approximately $2,166,179.47. This represents a 7.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.29% of the company’s stock.

Western Union Profile

Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. The company enables individuals and businesses to send and receive money through a variety of channels, including its vast agent network, online platforms, and mobile applications. Core services include person-to-person money transfers, business-to-business cross-border payments, bill payment services and prepaid card programs.

Through its digital offerings, Western Union provides customers with the ability to initiate transfers via its website and mobile app, as well as track transactions in real time.