Pictet Asset Management Holding SA Grows Holdings in The Western Union Company (NYSE:WU)

Pictet Asset Management Holding SA lifted its position in shares of The Western Union Company (NYSE:WU) by 11.0% during the 4th quarter, HoldingsChannel reports. The fund owned 59,804 shares of the credit services provider’s stock after purchasing an additional 5,915 shares during the period. Pictet Asset Management Holding SA’s holdings in Western Union were worth $634,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of WU. Norges Bank acquired a new position in Western Union during the fourth quarter worth $22,984,000. Bank of New York Mellon Corp increased its stake in shares of Western Union by 41.7% during the fourth quarter. Bank of New York Mellon Corp now owns 6,305,933 shares of the credit services provider’s stock worth $66,843,000 after purchasing an additional 1,857,012 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of Western Union during the 4th quarter worth about $5,895,000. Charles Schwab Investment Management Inc. lifted its stake in Western Union by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,489,079 shares of the credit services provider’s stock valued at $132,384,000 after buying an additional 549,931 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Western Union by 38.4% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,630,183 shares of the credit services provider’s stock worth $17,280,000 after buying an additional 452,398 shares during the last quarter. 91.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. JMP Securities reissued a “market perform” rating on shares of Western Union in a report on Thursday, February 6th. Morgan Stanley decreased their price objective on Western Union from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Wednesday, February 5th. Barclays dropped their target price on shares of Western Union from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Friday, December 13th. Susquehanna decreased their price target on shares of Western Union from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $14.00 price objective on shares of Western Union in a research note on Thursday, April 3rd. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, Western Union has an average rating of “Hold” and a consensus price target of $12.11.

Western Union Stock Performance

NYSE:WU opened at $9.12 on Wednesday. The company’s 50-day moving average is $10.58 and its two-hundred day moving average is $10.84. The Western Union Company has a 1-year low of $9.00 and a 1-year high of $13.93. The company has a debt-to-equity ratio of 3.04, a current ratio of 1.20 and a quick ratio of 1.10. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 3.34, a PEG ratio of 1.32 and a beta of 0.69.

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

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

Western Union Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 10.31%. The ex-dividend date of this dividend was Monday, March 17th. Western Union’s payout ratio is 34.43%.

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.