Pictet Asset Management Ltd. Has $19.17 Million Holdings in The Western Union Company (NYSE:WU)
Pictet Asset Management Ltd. grew its stake in shares of The Western Union Company (NYSE:WU) by 7.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 963,777 shares of the credit services provider’s stock after acquiring an additional 63,127 shares during the period. Pictet Asset Management Ltd. owned 0.23% of The Western Union worth $19,170,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of WU. Signaturefd LLC lifted its position in The Western Union by 66.5% during the second quarter. Signaturefd LLC now owns 1,300 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 519 shares during the last quarter. Private Ocean LLC bought a new position in shares of The Western Union during the second quarter worth approximately $30,000. Mcmillion Capital Management Inc. bought a new position in shares of The Western Union during the second quarter worth approximately $49,000. Close Asset Management Ltd increased its holdings in shares of The Western Union by 79.6% during the first quarter. Close Asset Management Ltd now owns 3,488 shares of the credit services provider’s stock worth $64,000 after purchasing an additional 1,546 shares during the period. Finally, Squar Milner Financial Services LLC increased its holdings in shares of The Western Union by 297.1% during the second quarter. Squar Milner Financial Services LLC now owns 3,971 shares of the credit services provider’s stock worth $79,000 after purchasing an additional 2,971 shares during the period.
Separately, TheStreet raised shares of The Western Union from a “c+” rating to a “b” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $19.67.
The Western Union (NYSE:WU) last announced its earnings results on Thursday, August 1st. The credit services provider reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.03). The Western Union had a negative return on equity of 309.12% and a net margin of 22.11%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the business posted $0.46 earnings per share. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. Analysts forecast that The Western Union Company will post 1.77 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, September 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.42%. The Western Union’s dividend payout ratio is presently 41.67%.
In related news, Director Betsy D. Holden sold 15,474 shares of The Western Union stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $21.16, for a total value of $327,429.84. Following the transaction, the director now directly owns 103,652 shares of the company’s stock, valued at $2,193,276.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Amintore Schenkel sold 13,361 shares of The Western Union stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $22.86, for a total transaction of $305,432.46. Following the completion of the transaction, the insider now directly owns 96,839 shares in the company, valued at $2,213,739.54. The disclosure for this sale can be found here. Insiders sold 105,668 shares of company stock worth $2,211,700 over the last three months. 1.33% of the stock is currently owned by insiders.
The Western Union Company Profile
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.
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