Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Western Union Co. (NYSE:WU) during the second quarter, Holdings Channel reports. The firm purchased 19,831 shares of the company’s stock, valued at approximately $380,000.
Other large investors have also modified their holdings of the company. Bank of New York Mellon Corp increased its stake in Western Union by 48.4% in the second quarter. Bank of New York Mellon Corp now owns 34,905,218 shares of the company’s stock worth $669,481,000 after buying an additional 11,382,746 shares during the period. Kleinwort Benson Investors Dublin Ltd purchased a new stake in Western Union during the second quarter worth approximately $35,358,000. PGGM Investments increased its stake in Western Union by 452.0% in the second quarter. PGGM Investments now owns 1,908,009 shares of the company’s stock worth $36,596,000 after buying an additional 1,562,332 shares during the period. Schroder Investment Management Group increased its stake in Western Union by 33.5% in the second quarter. Schroder Investment Management Group now owns 6,066,138 shares of the company’s stock worth $116,349,000 after buying an additional 1,523,709 shares during the period. Finally, Bank of Montreal Can purchased a new stake in Western Union during the second quarter worth approximately $23,153,000.
Shares of Western Union Co. (NYSE:WU) traded up 0.05% during mid-day trading on Friday, reaching $21.48. The company’s stock had a trading volume of 1,341,204 shares. The firm has a market capitalization of $10.41 billion, a P/E ratio of 13.01 and a beta of 1.16. Western Union Co. has a 1-year low of $16.02 and a 1-year high of $21.80. The company’s 50-day moving average is $20.25 and its 200 day moving average is $20.10.
A number of equities research analysts recently commented on the company. Monness Crespi & Hardt downgraded Western Union from a “buy” rating to a “neutral” rating and set a $22.00 target price for the company. in a report on Thursday, September 8th. Vetr downgraded Western Union from a “sell” rating to a “strong sell” rating and set a $19.20 target price for the company. in a report on Monday, September 5th. Morgan Stanley reaffirmed an “underweight” rating and set a $17.00 target price on shares of Western Union in a report on Tuesday, August 23rd. Jefferies Group lifted their target price on Western Union from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Friday, August 5th. Finally, Zacks Investment Research raised Western Union from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Eight analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $18.91.
In related news, CFO Rajesh K. Agrawal sold 9,263 shares of Western Union stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $21.50, for a total transaction of $199,154.50. Following the completion of the transaction, the chief financial officer now directly owns 126,997 shares of the company’s stock, valued at $2,730,435.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Odilon Almeida sold 18,064 shares of Western Union stock in a transaction on Monday, August 29th. The stock was sold at an average price of $21.57, for a total value of $389,640.48. Following the transaction, the executive vice president now directly owns 72,560 shares of the company’s stock, valued at $1,565,119.20. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
About Western Union
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.