UniSuper Management Pty Ltd increased its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 10.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,670,356 shares of the financial services provider's stock after purchasing an additional 159,988 shares during the period. Wells Fargo & Company makes up approximately 0.8% of UniSuper Management Pty Ltd's portfolio, making the stock its 18th biggest holding. UniSuper Management Pty Ltd owned approximately 0.05% of Wells Fargo & Company worth $117,326,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in WFC. Rialto Wealth Management LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $26,000. Truvestments Capital LLC bought a new stake in Wells Fargo & Company in the third quarter worth $29,000. Modus Advisors LLC purchased a new stake in Wells Fargo & Company during the 4th quarter valued at about $30,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. grew its holdings in Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock worth $30,000 after acquiring an additional 237 shares during the last quarter. Institutional investors own 75.90% of the company's stock.
Wells Fargo & Company Stock Performance
Shares of WFC stock traded down $1.57 during trading hours on Friday, reaching $70.71. The company had a trading volume of 13,550,316 shares, compared to its average volume of 17,140,434. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The business has a fifty day moving average price of $75.84 and a 200-day moving average price of $70.03. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The firm has a market cap of $230.87 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm's revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 EPS. Sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.
Wells Fargo & Company Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.26%. Wells Fargo & Company's payout ratio is presently 29.74%.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. Morgan Stanley boosted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Compass Point upped their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Barclays boosted their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Finally, UBS Group upped their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.97.
Read Our Latest Analysis on WFC
Wells Fargo & Company Profile
(
Free Report)
Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.
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