The Swiss National Bank has decreased its stake in The Western Union Company (NYSE: WU) by 2.3% during the second quarter of 2023. According to the bank’s most recent filing with the United States Securities and Exchange Commission, the institution now holds 639,700 shares of the global credit services provider after selling 14,800 shares in the period.
As of the latest filing, the Swiss National Bank’s holdings in Western Union are valued at approximately $5,386,000, representing 0.20% of the company. This adjustment is part of a broader trend among institutional investors, as several hedge funds have recently altered their positions in Western Union.
Hantz Financial Services Inc. significantly increased its holdings in Western Union by an impressive 667.0% during the second quarter, acquiring 4,602 shares worth $39,000 after purchasing an additional 4,002 shares. Meanwhile, Farmers & Merchants Investments Inc. boosted its stake by 2,225.8%, now owning 5,675 shares valued at $48,000 after purchasing 5,431 additional shares.
Other notable transactions include CHICAGO TRUST Co NA, which acquired a new stake valued at approximately $84,000, and Annis Gardner Whiting Capital Advisors LLC, which purchased shares worth around $96,000. Additionally, Bayforest Capital Ltd entered a new position in Western Union during the second quarter, valued at approximately $100,000. Currently, hedge funds and institutional investors collectively own 91.81% of Western Union’s stock.
Current Stock Performance
On November 10, 2023, Western Union shares opened at $8.65. The company’s fifty-day moving average price stands at $8.52, while its 200-day moving average is $8.60. Over the past 12 months, the stock has experienced a low of $7.85 and a high of $11.94. Western Union’s current ratio is 1.12, with a quick ratio of 1.15 and a debt-to-equity ratio of 2.80. The company boasts a market capitalization of $2.75 billion, a price-to-earnings (P/E) ratio of 3.78, a P/E-to-growth (P/E/G) ratio of 2.98, and a beta of 0.61.
Insider Transactions and Analyst Ratings
In a separate development, insider Giovanni Angelini purchased 10,000 shares of Western Union on November 10, 2023, at an average price of $8.95 per share, amounting to a total investment of $89,500. Following this transaction, Angelini’s ownership in the company increased by 5.65%, bringing his total holdings to 186,932 shares valued at approximately $1,673,041.40. Company insiders currently hold 1.58% of the stock.
Recent analyst reports have provided mixed insights regarding Western Union’s stock. UBS Group raised its target price from $8.50 to $9.00, maintaining a “neutral” rating. Conversely, Zacks Research upgraded the stock from a “strong sell” to a “hold” rating. Keefe, Bruyette & Woods revised their price objective down to $9.00 with a “market perform” rating, while Susquehanna increased their target from $9.00 to $10.00 with a “neutral” rating.
MarketBeat.com indicates that ten analysts currently rate Western Union with a “hold” rating, while four have assigned a “sell” rating. The consensus rating is categorized as “Reduce,” with a price target of $8.70.
The Western Union Company specializes in providing money movement and payment services globally, operating primarily through its Consumer Money Transfer and Consumer Services segments. These segments facilitate international and domestic money transfers through a network of retail agents, websites, and mobile platforms.
