The Western Union Company (NYSE:WU) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its position in The Western Union Company (NYSE:WU) by 4.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 382,917 shares of the credit services provider’s stock after selling 17,223 shares during the period. Corebridge Financial Inc. owned 0.11% of Western Union worth $4,059,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Citigroup Inc. boosted its position in Western Union by 19.0% during the third quarter. Citigroup Inc. now owns 523,676 shares of the credit services provider’s stock worth $6,247,000 after acquiring an additional 83,715 shares during the last quarter. Townsquare Capital LLC acquired a new position in shares of Western Union during the 3rd quarter worth approximately $178,000. Verition Fund Management LLC grew its position in shares of Western Union by 9.7% in the third quarter. Verition Fund Management LLC now owns 64,988 shares of the credit services provider’s stock valued at $775,000 after purchasing an additional 5,745 shares in the last quarter. True Wealth Design LLC acquired a new stake in shares of Western Union in the third quarter valued at approximately $25,000. Finally, Kestra Investment Management LLC purchased a new position in Western Union during the third quarter worth approximately $974,000. Institutional investors and hedge funds own 91.81% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. JMP Securities restated a “market perform” rating on shares of Western Union in a report on Thursday, February 6th. Susquehanna cut their price objective on shares of Western Union from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Barclays decreased their target price on shares of Western Union from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Friday, December 13th. Morgan Stanley cut their price target on shares of Western Union from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods decreased their price objective on Western Union from $13.00 to $12.00 and set a “market perform” rating on the stock in a report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.11.

Western Union Stock Down 1.4 %

Shares of NYSE WU opened at $10.48 on Monday. The Western Union Company has a 52-week low of $10.04 and a 52-week high of $13.95. The business’s 50 day moving average is $10.63 and its two-hundred day moving average is $10.94. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 3.84, a PEG ratio of 1.32 and a beta of 0.79. The company has a quick ratio of 1.10, a current ratio of 1.20 and a debt-to-equity ratio of 3.04.

Western Union (NYSE:WU) last posted its earnings results on Tuesday, February 4th. The credit services provider reported $0.40 earnings per share (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%. Research analysts predict that The Western Union Company will post 1.79 EPS for the current year.

Western Union Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 8.97%. The ex-dividend date of this dividend is Monday, March 17th. Western Union’s payout ratio is currently 34.43%.

Western Union declared that its board has approved a stock buyback program on Friday, December 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the credit services provider to reacquire up to 27.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.