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Ariel Investments, an investment management company, has announced the fourth quarter 2023 investor letter for the Ariel Focus Fund. You can download a copy of the same here. In the fourth quarter, the fund increased +11.05%, compared to returns of +9.50% and +11.69% for the Russell 1000 Value Index and S&P 500 Index, respectively. The fund has gained +6.97 over the past year, underperforming both indexes’ returns of +11.46% and +26.29%. Additionally, you can check out the fund’s top five holdings to learn about the best stocks for 2023.
Ariel Focus Fund featured stocks such as Western Union Company (NYSE:WU) in its Q4 2023 investor letter. Western Union Company (NYSE:WU), headquartered in Denver, Colorado, provides money transfer services for consumer-to-consumer and business solutions. On March 14, 2024, Western Union Company (NYSE: WU) stock closed at $13.32 per share. Western Union Company (NYSE: WU)’s 1-month return is his 4.14%, and the company’s stock has increased 23.79% of its value over the past 52 weeks. Western Union Company (NYSE:WU) has a market capitalization of $4.558 billion.
Ariel Focus Fund said the following regarding Western Union Company (NYSE:WU) in its Q4 2023 Investor Letter:
“The world leader in remittance services, western union company (NYSE:WU) fell in the quarter despite delivering solid earnings and subsequently raising its full-year outlook. These results were driven by regulatory changes in Iraq and margin expansion in the retail business. Meanwhile, management continues to execute on its Evolve 2025 strategy and continues to return capital to shareholders through dividends and share buybacks. While the company expects the macroeconomic environment to continue to slow, it reminded investors that remittances have shown resilience during past periods of economic contraction. At current levels, WU is trading at a discount to our private market value estimate. ”
Customer receiving mobile remittance notification on mobile phone.
Western Union Company (NYSE:WU) isn’t on the list of 30 most popular stocks among hedge funds. According to our database, Western Union Company (NYSE:WU)’s hedge fund portfolio held 30 companies at the end of the fourth quarter, compared to 27 companies last quarter.
We talked about Western Union Company (NYSE:WU) in another article and shared a list of the best low-priced dividend stocks to invest in. Additionally, for more information on investor letters from hedge funds, please visit our Hedge Fund Investor Letters Q4 2023 page. and other major investors.
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Disclosure: None. This article was originally published on Insider Monkey.
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