Wells Fargo & Company $WFC Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 23.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,419,827 shares of the financial services provider’s stock after selling 430,195 shares during the quarter. Wells Fargo & Company accounts for 0.7% of UniSuper Management Pty Ltd’s investment portfolio, making the stock its 20th largest position. UniSuper Management Pty Ltd’s holdings in Wells Fargo & Company were worth $119,010,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in Wells Fargo & Company by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 302,092,955 shares of the financial services provider’s stock worth $24,203,688,000 after purchasing an additional 1,341,222 shares during the period. Norges Bank purchased a new position in shares of Wells Fargo & Company in the 2nd quarter valued at about $3,990,551,000. Massachusetts Financial Services Co. MA grew its position in shares of Wells Fargo & Company by 7.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 17,859,680 shares of the financial services provider’s stock worth $1,496,998,000 after buying an additional 1,223,999 shares in the last quarter. Amundi increased its stake in shares of Wells Fargo & Company by 18.2% during the second quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock worth $1,165,868,000 after buying an additional 2,180,693 shares during the period. Finally, Pzena Investment Management LLC raised its holdings in Wells Fargo & Company by 5.5% in the second quarter. Pzena Investment Management LLC now owns 10,371,812 shares of the financial services provider’s stock valued at $830,990,000 after acquiring an additional 542,493 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $87.00 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.05. The stock has a market cap of $273.11 billion, a P/E ratio of 13.88, a P/E/G ratio of 0.95 and a beta of 1.09. The stock has a 50 day moving average of $90.33 and a two-hundred day moving average of $84.97. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $97.76.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, beating the consensus estimate of $1.66 by $0.10. The firm had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. Wells Fargo & Company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.43 EPS. On average, research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is currently 28.71%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. UBS Group dropped their price objective on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Freedom Capital cut Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 15th. Keefe, Bruyette & Woods lifted their price target on Wells Fargo & Company from $92.00 to $101.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Finally, Evercore ISI dropped their price objective on Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, January 15th. Thirteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.87.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.