Todays Report: The Kentucky Retirement Systems Insurance Trust Fund Takes Position in Western Union Co. (WU)

The Kentucky Retirement Systems Insurance Trust Fund Takes Position in Western Union Co. (WU)

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.

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