Sei Investments Co. Sells 240,278 Shares of The Western Union Company (NYSE:WU)

Sei Investments Co. cut its position in The Western Union Company (NYSE:WU - Free Report) by 31.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 528,869 shares of the credit services provider's stock after selling 240,278 shares during the quarter. Sei Investments Co. owned about 0.16% of Western Union worth $5,606,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Townsquare Capital LLC acquired a new position in Western Union in the 3rd quarter valued at $178,000. Verition Fund Management LLC increased its stake in shares of Western Union by 9.7% in the 3rd 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 during the last quarter. True Wealth Design LLC acquired a new position in Western Union during the third quarter worth about $25,000. Holocene Advisors LP increased its position in Western Union by 79.2% during the 3rd quarter. Holocene Advisors LP now owns 541,626 shares of the credit services provider's stock worth $6,462,000 after purchasing an additional 239,367 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC bought a new position in shares of Western Union in the 3rd quarter valued at $11,726,000. Institutional investors own 91.81% of the company's stock.

Western Union Stock Down 1.3 %

WU stock traded down $0.14 during midday trading on Thursday, hitting $10.50. The company's stock had a trading volume of 7,706,417 shares, compared to its average volume of 4,448,838. The company has a market cap of $3.55 billion, a PE ratio of 3.84, a P/E/G ratio of 1.32 and a beta of 0.79. The company has a current ratio of 1.20, a quick ratio of 1.10 and a debt-to-equity ratio of 3.04. The Western Union Company has a 12 month low of $10.04 and a 12 month high of $13.93. The firm's 50-day moving average is $10.64 and its 200-day moving average is $10.92.

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Western Union (NYSE:WU - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $0.40 earnings per share 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%. On average, equities research analysts forecast that The Western Union Company will post 1.79 earnings per share for the current fiscal year.

Western Union announced that its board has authorized a stock buyback plan on Friday, December 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to reacquire up to 27.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Western Union Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.235 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.94 annualized dividend and a dividend yield of 8.96%. Western Union's dividend payout ratio (DPR) is 34.43%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WU. Susquehanna lowered their target price on Western Union from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods reduced their price target on shares of Western Union from $13.00 to $12.00 and set a "market perform" rating for the company in a report on Monday, December 9th. Royal Bank of Canada restated a "sector perform" rating and set a $14.00 price objective on shares of Western Union in a report on Thursday. Barclays lowered 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. Finally, Morgan Stanley dropped their price objective on Western Union from $10.00 to $9.00 and set an "underweight" rating on the stock in a research note on Wednesday, February 5th. 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, Western Union presently has an average rating of "Hold" and a consensus target price of $12.11.

Western Union Company 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.