Alberta Investment Management Corp Makes New Investment in The Western Union Company (NYSE:WU)

Alberta Investment Management Corp acquired a new stake in The Western Union Company (NYSE:WU) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 20,600 shares of the credit services provider’s stock, valued at approximately $218,000.

Other large investors also recently modified their holdings of the company. State Street Corp increased its position in shares of Western Union by 0.4% during the 3rd quarter. State Street Corp now owns 12,926,192 shares of the credit services provider’s stock worth $154,209,000 after purchasing an additional 52,081 shares in the last quarter. Geode Capital Management LLC grew its stake in Western Union by 0.4% during the third quarter. Geode Capital Management LLC now owns 7,179,698 shares of the credit services provider’s stock worth $85,671,000 after buying an additional 25,458 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Western Union by 4.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,880,800 shares of the credit services provider’s stock worth $22,438,000 after buying an additional 84,579 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Western Union by 20.0% in the third quarter. JPMorgan Chase & Co. now owns 1,698,559 shares of the credit services provider’s stock valued at $20,264,000 after acquiring an additional 283,479 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Western Union by 8.0% in the third quarter. Franklin Resources Inc. now owns 1,103,296 shares of the credit services provider’s stock valued at $13,061,000 after acquiring an additional 81,343 shares during the last quarter. 91.81% of the stock is currently owned by institutional investors.

Western Union Trading Down 1.0 %

WU opened at $10.63 on Friday. The firm’s fifty day moving average is $10.54 and its two-hundred day moving average is $11.14. 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 Western Union Company has a twelve month low of $10.04 and a twelve month high of $14.19. The company has a debt-to-equity ratio of 3.04, a quick ratio of 1.10 and a current ratio of 1.20.

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

Western Union announced that its Board of Directors has approved a stock repurchase program on Friday, December 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to repurchase up to 27.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Western Union Announces Dividend

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 given a $0.235 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.94 annualized dividend and a dividend yield of 8.84%. Western Union’s dividend payout ratio is presently 34.43%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WU. Keefe, Bruyette & Woods dropped their price target on Western Union from $13.00 to $12.00 and set a “market perform” rating for the company in a report on Monday, December 9th. Barclays lowered their target price on Western Union from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Friday, December 13th. Susquehanna cut their price target on Western Union from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. JMP Securities reissued a “market perform” rating on shares of Western Union in a report on Thursday, February 6th. Finally, Morgan Stanley dropped their target price on shares of Western Union from $10.00 to $9.00 and set an “underweight” rating for the company in a research note on Wednesday, February 5th. Three analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Western Union currently has a consensus rating of “Hold” and an average target price of $12.11.

Western Union Company 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.