Cornercap Investment Counsel Inc Lowers stake in The Western Union Company (WU)

The Western Union Company (WU) : Cornercap Investment Counsel Inc reduced its stake in The Western Union Company by 10.75% during the most recent quarter end. The investment management company now holds a total of 422,856 shares of The Western Union Company which is valued at $8,867,290 after selling 50,910 shares in The Western Union Company , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.The Western Union Company makes up approximately 1.59% of Cornercap Investment Counsel Inc’s portfolio.

Other Hedge Funds, Including , Tcw Group Inc boosted its stake in WU in the latest quarter, The investment management firm added 900 additional shares and now holds a total of 36,000 shares of The Western Union Company which is valued at $754,920. The Western Union Company makes up approx 0.01% of Tcw Group Inc’s portfolio. Zweig-dimenna Associates sold out all of its stake in WU during the most recent quarter. The investment firm sold 20,300 shares of WU which is valued $427,924.I.g. Investment Management Ltd. boosted its stake in WU in the latest quarter, The investment management firm added 215,493 additional shares and now holds a total of 221,502 shares of The Western Union Company which is valued at $4,651,542. The Western Union Company makes up approx 0.02% of I.g. Investment Management Ltd.’s portfolio.State Board Of Administration Of Florida Retirement System boosted its stake in WU in the latest quarter, The investment management firm added 140,961 additional shares and now holds a total of 786,334 shares of The Western Union Company which is valued at $16,513,014. The Western Union Company makes up approx 0.05% of State Board Of Administration Of Florida Retirement System’s portfolio.Checchi Capital Advisers boosted its stake in WU in the latest quarter, The investment management firm added 577 additional shares and now holds a total of 5,642 shares of The Western Union Company which is valued at $114,307. The Western Union Company makes up approx 0.03% of Checchi Capital Advisers’s portfolio.

The Western Union Company closed down -0.15 points or -0.69% at $21.46 with 26,00,749 shares getting traded on Monday. Post opening the session at $21.59, the shares hit an intraday low of $21.443 and an intraday high of $21.62 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, The Western Union Company reported $0.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.40. The company had revenue of $1375.70 million for the quarter, compared to analysts expectations of $1376.71 million. The company’s revenue was down -.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.41 EPS.

Investors should note that on Jul 14, 2016, The Western Union Company announced a cash dividend of $0.1600. The company’s management has announced Sep 14, 2016 as the ex-dividend date and fixed the record date on Sep 16, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on The Western Union Company. Barclays Downgraded The Western Union Company on Jul 7, 2016 to ” Underweight”, Price Target of the shares are set at $20.

The Western Union Company (Western Union) is a global provider of money movement and payment services. The Company classifies its businesses into three: Consumer-to-Consumer Consumer-to-Business and Business Solutions. The Consumer-to-Consumer operating segment facilitates money transfers between two consumers primarily through a network of third-party agents. The Consumer-to-Business operating segment facilitates bill payments from consumers to businesses and other organizations including utilities auto finance companies mortgage servicers financial service providers government agencies and other businesses. The Consumer-to-Business payments services are available through a variety of services that include Speedpay Pago Facil and Western Union Payments. The Business Solutions operating segment facilitates payment and foreign exchange solutions primarily cross-border cross-currency transactions for small and medium size enterprises and other organizations and individuals.

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