PNC Financial Services Group Inc. Trims Stake in The Western Union Company (NYSE:WU)

PNC Financial Services Group Inc. lessened its position in shares of The Western Union Company (NYSE:WU) by 5.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 79,059 shares of the credit services provider’s stock after selling 4,395 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Western Union were worth $943,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in WU. Comerica Bank raised its holdings in shares of Western Union by 6.7% in the first quarter. Comerica Bank now owns 323,278 shares of the credit services provider’s stock valued at $4,519,000 after buying an additional 20,184 shares during the last quarter. LRI Investments LLC purchased a new stake in Western Union during the 1st quarter valued at approximately $39,000. Swedbank AB acquired a new stake in Western Union during the 1st quarter worth approximately $458,000. Abich Financial Wealth Management LLC grew its stake in shares of Western Union by 59.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 3,292 shares of the credit services provider’s stock valued at $46,000 after purchasing an additional 1,233 shares during the last quarter. Finally, Lynx Investment Advisory acquired a new position in shares of Western Union in the second quarter valued at approximately $298,000. Institutional investors and hedge funds own 91.81% of the company’s stock.

Western Union Trading Down 0.7 %

Western Union stock opened at $11.02 on Friday. The stock has a 50-day moving average price of $11.32 and a 200 day moving average price of $11.96. The Western Union Company has a 52 week low of $10.51 and a 52 week high of $14.19. The stock has a market cap of $3.72 billion, a PE ratio of 5.65, a P/E/G ratio of 1.56 and a beta of 0.87. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 3.96.

Western Union (NYSE:WU) last posted its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. Western Union had a net margin of 16.07% and a return on equity of 120.39%. The company’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.43 earnings per share. Equities research analysts predict that The Western Union Company will post 1.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WU has been the topic of several recent research reports. StockNews.com raised shares of Western Union from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. UBS Group dropped their price objective on Western Union from $13.50 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Western Union from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Tuesday, August 20th. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Western Union currently has an average rating of “Hold” and a consensus target price of $12.86.

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.