Van ECK Associates Corp Purchases 76,900 Shares of The Western Union Company (NYSE:WU)

Van ECK Associates Corp grew its holdings in shares of The Western Union Company (NYSE:WU - Free Report) by 19.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 480,543 shares of the credit services provider's stock after buying an additional 76,900 shares during the period. Van ECK Associates Corp owned approximately 0.14% of Western Union worth $5,094,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. True Wealth Design LLC bought a new position in Western Union during the third quarter worth $25,000. R Squared Ltd acquired a new position in shares of Western Union during the fourth quarter valued at about $25,000. Independence Bank of Kentucky bought a new position in shares of Western Union during the 4th quarter worth about $28,000. Wilmington Savings Fund Society FSB grew its stake in shares of Western Union by 1,734.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,862 shares of the credit services provider's stock valued at $52,000 after buying an additional 4,597 shares during the period. Finally, Sound Income Strategies LLC bought a new stake in Western Union in the 4th quarter valued at about $53,000. Institutional investors own 91.81% of the company's stock.

Western Union Stock Performance

Shares of NYSE WU traded down $0.11 during midday trading on Friday, reaching $10.63. The company's stock had a trading volume of 6,059,447 shares, compared to its average volume of 5,698,688. The stock has a market capitalization of $3.59 billion, a P/E ratio of 3.89, a PEG ratio of 1.32 and a beta of 0.85. 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 50 day moving average price of $10.54 and a 200-day moving average price of $11.14. The Western Union Company has a 12-month low of $10.04 and a 12-month high of $14.19.

Western Union (NYSE:WU - Get Free Report) last posted 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%. As a group, equities analysts predict that The Western Union Company will post 1.79 earnings per share for the current year.

Western Union declared that its board has authorized a share buyback plan on Friday, December 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the credit services provider to repurchase up to 27.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Western Union Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.235 per share. The ex-dividend date is Monday, March 17th. This represents a $0.94 dividend on an annualized basis and a yield of 8.84%. Western Union's dividend payout ratio (DPR) is presently 34.43%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on WU shares. UBS Group decreased their price objective on Western Union from $13.50 to $12.00 and set a "neutral" rating for the company in a report on Thursday, October 24th. Keefe, Bruyette & Woods decreased their target price 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 dropped their price target on shares of Western Union from $11.00 to $10.00 and set an "underweight" rating on the stock in a research report on Friday, December 13th. Morgan Stanley decreased their price objective on Western Union from $10.00 to $9.00 and set an "underweight" rating for the company in a report on Wednesday, February 5th. Finally, StockNews.com raised Western Union from a "sell" rating to a "hold" rating in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company's stock. According to data from MarketBeat, Western Union presently has a consensus rating of "Hold" and a consensus target price of $12.11.

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.