Trading Report: Today, CIBC World Markets Inc. Boosts Position in Western Union Co. (WU)

Today, CIBC World Markets Inc. Boosts Position in Western Union Co. (WU)

CIBC World Markets Inc. increased its stake in shares of Western Union Co. (NYSE:WU) by 3.9% during the third quarter, Holdings Channel reports. The fund owned 147,798 shares of the company’s stock after buying an additional 5,498 shares during the period. CIBC World Markets Inc.’s holdings in Western Union were worth $3,077,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Capstone Asset Management Co. raised its position in Western Union by 0.4% in the second quarter. Capstone Asset Management Co. now owns 43,012 shares of the company’s stock valued at $825,000 after buying an additional 166 shares during the last quarter. Breton Hill Capital Ltd. raised its position in Western Union by 53.9% in the second quarter. Breton Hill Capital Ltd. now owns 43,272 shares of the company’s stock valued at $830,000 after buying an additional 15,164 shares during the last quarter. Creative Planning raised its position in Western Union by 6.5% in the second quarter. Creative Planning now owns 17,484 shares of the company’s stock valued at $335,000 after buying an additional 1,071 shares during the last quarter. Banced Corp bought a new position in Western Union during the second quarter valued at $315,000. Finally, Atria Investments LLC bought a new position in Western Union during the second quarter valued at $207,000.

Shares of Western Union Co. (NYSE:WU) traded up 0.05% on Friday, hitting $21.48. 1,338,204 shares of the company traded hands. The stock has a market capitalization of $10.41 billion, a price-to-earnings ratio of 13.01 and a beta of 1.16. The firm’s 50 day moving average price is $20.23 and its 200-day moving average price is $20.09. Western Union Co. has a 1-year low of $16.02 and a 1-year high of $21.80.

A number of equities analysts have weighed in on the stock. Monness Crespi & Hardt lowered shares of Western Union from a “buy” rating to a “neutral” rating and set a $22.00 target price for the company. in a research report on Thursday, September 8th. Vetr lowered shares of Western Union from a “sell” rating to a “strong sell” rating and set a $19.20 price objective for the company. in a research report on Monday, September 5th. Morgan Stanley restated an “underweight” rating and issued a $17.00 price objective on shares of Western Union in a research report on Tuesday, August 23rd. Jefferies Group raised their price objective on shares of Western Union from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, August 5th. Finally, Zacks Investment Research upgraded shares of Western Union from a “sell” rating to a “hold” rating in a research report on Friday, August 5th. Eight analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $18.91.

In other news, Director Michael Miles sold 21,281 shares of the stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $20.37, for a total transaction of $433,493.97. Following the completion of the transaction, the director now directly owns 126,819 shares in the company, valued at approximately $2,583,303.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Odilon Almeida sold 18,064 shares of the stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $21.57, for a total value of $389,640.48. Following the transaction, the executive vice president now owns 72,560 shares of the company’s stock, valued at $1,565,119.20. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Western Union Company Profile

The Western Union Company (Western Union) is a provider of money movement and payment services. The Company operates through three segments: Consumer-to-Consumer, Consumer-to-Business and Business Solutions. Western Union’s Consumer-to-Consumer segment is engaged in individual money transfers from one consumer to another.

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