TransUnion Stock Price, News & Analysis

TransUnion (NYSE: TRU) announced that its Board of Directors has declared a quarterly cash dividend of $0.105 per share for the third quarter 2024. The dividend will be paid on December 9, 2024, to shareholders who are on record as of November 22, 2024.

TransUnion (NYSE: TRU) has announced its participation in three upcoming investor conferences in November 2024. Todd Cello, Executive VP and CFO, will present at the Baird Global Industrial Conference on November 12 at 9:40 a.m. CT and at the RBC Capital Markets Technology Conference on November 19 at 9:00 a.m. CT. Chris Cartwright, President and CEO, will present at the J.P. Morgan Ultimate Services Investor Conference on November 14 at 7:50 a.m. CT. All presentations will be available via live webcast on TransUnion's Investor Relations website, with replays accessible afterward.

TransUnion's new research reveals a communication paradox: while 80% of consumers consider phone calls important for business communication, the same percentage blocks unknown numbers. The study shows that 91% of consumers expect banks to identify themselves before answering, and 65% prefer calls for suspected fraud. Consumer preferences for phone communication are highest for personal matters (64%), high-value decisions (55%), and urgent circumstances (55%). Despite 70% of consumers receiving impersonation calls in the past three months, branded calling showing company name and logo could improve response rates, with 73% more likely to answer such authenticated calls.

A new TransUnion survey reveals that 80% of recent home buyers may consider refinancing their mortgages in the next 12 months as interest rates begin to fall. The survey, conducted in September 2024, found that most consumers feel their existing auto and new mortgage payments are straining their household finances. 70% of recent home buyers cited more favorable loan terms as a key refinancing driver, while 67% mentioned better interest rates. For auto loans, 65% of respondents agreed their payments strain their finances, with 63% likely to refinance if it could reduce monthly payments. Credit unions dominate the refinance market with a 67% share in 2023.

TransUnion (NYSE: TRU) reported strong Q3 2024 financial results, with total revenue reaching $1,085 million, up 12% compared to Q3 2023. Net income was $68 million with diluted EPS of $0.35, improving from a loss in Q3 2023. The company saw significant growth across multiple segments: U.S. Markets revenue increased 12%, Financial Services up 17%, and Consumer Interactive rose 21%. International revenue grew 11%, with notable performance in India (+21%). TransUnion voluntarily prepaid $25 million in debt and raised its 2024 guidance, now expecting 9% revenue growth for the year. The company projects to capture $85 million in operating expense savings in 2024 through its transformation program.

TransUnion's latest report reveals a significant 33% increase in property managers reporting rent payments to credit agencies since 2023. 48% of aware property managers now report rent payments, with 52% of them starting within the past two years. The primary motivations are helping residents build credit scores (91%) and encouraging timely payments (70%). 85% of reporting managers find it easy.

The study shows Gen Z renters report payments at 26%, more than double the general population's 11%. Across generations, 84% of renters with reported payments saw credit score improvements. Additionally, 61% of renters prefer property managers who report payments, and 83% say they're more likely to pay on time if reported.

TransUnion's SVP Maitri Johnson predicts rent payment reporting will become the norm, benefiting both renters and property managers.

Horace Mann Educators (NYSE:HMN) has announced a new partnership with TransUnion (NYSE: TRU) to enhance its financial wellness offerings for educators. The collaboration introduces HMScore™, a free credit education and tools program designed to empower teachers nationwide.

HMScore™ provides educators with access to their TransUnion credit report and score, credit monitoring, and TransUnion's score simulation tool. This digital interface aims to help educators understand their credit picture and actively manage their financial health. The program is part of Horace Mann's broader initiative to support educators' financial success, which includes services such as student loan assistance, insurance products, and retirement planning.

Educators can access these new tools by visiting horacemann.com/hmscore. This partnership reflects Horace Mann's ongoing commitment to providing innovative resources that support educators in achieving their financial goals.

TransUnion's H2 2024 Update to the State of Omnichannel Fraud Report reveals significant fraud impacts on businesses globally. Key findings include:

• Business leaders report fraud losses equivalent to 6.5% of revenue, totaling $359 billion among surveyed organizations
• 75% of respondents noted fraud stayed the same or increased year-over-year
• Scam/authorized fraud was the most common cause of fraud loss
• Global rate of suspected Digital Fraud remained high at 5.2% of all transactions
• Synthetic identity lending exposure reached an all-time high of $3.2 billion in H1 2024
• Auto loan industry most impacted by synthetic identity exposure at $2.0 billion
• Communities industry (online forums, dating sites) experienced the largest percentage (11.5%) of suspected Digital Fraud globally

TransUnion's Fall 2024 US Gig Economy Report reveals that 62% of U.S. adults now earn money from gig platforms, with 37% relying on it as their primary income source. Millennials lead this trend, with 55% using gig work as their main employment. The report highlights high worker satisfaction (64%) due to flexibility, enjoyment, and skill alignment. Top gig work types include ridesharing (23%), freelancing (19%), and food delivery (19%).

While most gig workers earn under $2,500 monthly, 36% of Millennials and 21% of Gen Z report earnings over $5,000 per month. The majority plan to maintain or increase their gig involvement, with only 8% intending to switch to full-time employment. To attract and retain workers, platforms are considering offering services like identity protection, financial education, and supplementary insurance.