OLD National Bancorp IN Lowers Stock Holdings in The Western Union Company (NYSE:WU)

OLD National Bancorp IN lessened its holdings in shares of The Western Union Company (NYSE:WU - Free Report) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 657,698 shares of the credit services provider's stock after selling 46,356 shares during the period. OLD National Bancorp IN owned approximately 0.19% of Western Union worth $6,972,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Quarry LP boosted its position in Western Union by 52.9% during the 2nd quarter. Quarry LP now owns 2,588 shares of the credit services provider's stock worth $32,000 after acquiring an additional 895 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Western Union by 2.2% in the fourth quarter. Pacer Advisors Inc. now owns 50,387 shares of the credit services provider's stock valued at $534,000 after acquiring an additional 1,072 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Western Union by 0.5% during the third quarter. State of Alaska Department of Revenue now owns 238,876 shares of the credit services provider's stock valued at $2,849,000 after purchasing an additional 1,205 shares during the last quarter. Tidal Investments LLC increased its position in shares of Western Union by 1.4% during the 3rd quarter. Tidal Investments LLC now owns 88,410 shares of the credit services provider's stock worth $1,055,000 after purchasing an additional 1,230 shares during the last quarter. Finally, Plato Investment Management Ltd boosted its holdings in shares of Western Union by 12.9% in the 3rd quarter. Plato Investment Management Ltd now owns 13,177 shares of the credit services provider's stock valued at $157,000 after buying an additional 1,508 shares during the last quarter. 91.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on WU. UBS Group dropped their price objective on shares of Western Union from $13.50 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, October 24th. Keefe, Bruyette & Woods cut their price objective on shares of Western Union from $13.00 to $12.00 and set a "market perform" rating for the company in a research report on Monday, December 9th. Barclays lowered their target price on Western Union from $11.00 to $10.00 and set an "underweight" rating on the stock in a research note on Friday, December 13th. Finally, StockNews.com raised shares of Western Union from a "sell" rating to a "hold" rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $12.63.

Western Union Trading Up 0.4 %

Shares of WU stock traded up $0.05 during mid-day trading on Friday, hitting $10.45. The company's stock had a trading volume of 1,181,698 shares, compared to its average volume of 4,381,885. The company has a market cap of $3.53 billion, a PE ratio of 5.37, a P/E/G ratio of 1.40 and a beta of 0.85. The company's fifty day simple moving average is $10.67 and its 200-day simple moving average is $11.35. The company has a debt-to-equity ratio of 3.96, a quick ratio of 1.10 and a current ratio of 1.10. The Western Union Company has a 52 week low of $10.17 and a 52 week high of $14.19.

Western Union Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 9.00%. The ex-dividend date of this dividend was Monday, December 23rd. Western Union's dividend payout ratio (DPR) is presently 48.21%.

Western Union declared that its board has authorized a stock repurchase program on Friday, December 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the credit services provider to reacquire 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 shares are undervalued.

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.