Independence Bank of Kentucky Takes Position in The Western Union Company (NYSE:WU)

Independence Bank of Kentucky purchased a new position in shares of The Western Union Company (NYSE:WU) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 2,650 shares of the credit services provider’s stock, valued at approximately $28,000.

A number of other large investors have also recently bought and sold shares of WU. R Squared Ltd acquired a new stake in shares of Western Union during the fourth quarter worth about $25,000. Perigon Wealth Management LLC acquired a new stake in Western Union during the 4th quarter worth approximately $144,000. Pacer Advisors Inc. lifted its position in Western Union by 2.2% during the 4th quarter. Pacer Advisors Inc. now owns 50,387 shares of the credit services provider’s stock worth $534,000 after acquiring an additional 1,072 shares during the period. KBC Group NV grew its stake in shares of Western Union by 61.0% in the 4th quarter. KBC Group NV now owns 13,575 shares of the credit services provider’s stock valued at $144,000 after purchasing an additional 5,143 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Western Union by 33.6% in the fourth quarter. Blue Trust Inc. now owns 18,533 shares of the credit services provider’s stock valued at $196,000 after purchasing an additional 4,657 shares during the period. Institutional investors and hedge funds own 91.81% of the company’s stock.

Western Union Price Performance

Shares of NYSE WU opened at $10.34 on Monday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 3.96. The company’s 50-day moving average price is $10.64 and its 200 day moving average price is $11.30. The Western Union Company has a 52 week low of $10.17 and a 52 week high of $14.19. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 5.30, a PEG ratio of 1.40 and a beta of 0.85.

Western Union Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.235 per share. The ex-dividend date was Monday, December 23rd. This represents a $0.94 dividend on an annualized basis and a dividend yield of 9.09%. Western Union’s dividend payout ratio (DPR) is 48.21%.

Western Union announced that its Board of Directors has approved a share repurchase 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 an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts recently weighed in on WU shares. StockNews.com upgraded shares of Western Union from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. 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 note on Friday, December 13th. UBS Group reduced their price objective on shares of Western Union from $13.50 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reduced their target price on Western Union from $13.00 to $12.00 and set a “market perform” rating for the company in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to data from MarketBeat, Western Union presently has a consensus rating of “Hold” and an average target price of $12.63.

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.