UniSuper Management Pty Ltd Lowers Holdings in Wells Fargo & Company $WFC

UniSuper Management Pty Ltd reduced its position in Wells Fargo & Company (NYSE:WFC) by 23.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,419,827 shares of the financial services provider’s stock after selling 430,195 shares during the quarter. Wells Fargo & Company comprises about 0.7% of UniSuper Management Pty Ltd’s holdings, making the stock its 20th largest position. UniSuper Management Pty Ltd’s holdings in Wells Fargo & Company were worth $119,010,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Emergent Wealth Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 11.8% in the third quarter. Emergent Wealth Advisors LLC now owns 2,855 shares of the financial services provider’s stock valued at $239,000 after acquiring an additional 301 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Wells Fargo & Company by 74.1% in the third quarter. Envestnet Portfolio Solutions Inc. now owns 126,043 shares of the financial services provider’s stock valued at $10,565,000 after purchasing an additional 53,630 shares during the period. Myriad Asset Management US LP purchased a new stake in Wells Fargo & Company in the 3rd quarter valued at approximately $1,207,000. Grandfield & Dodd LLC purchased a new position in shares of Wells Fargo & Company during the 3rd quarter worth approximately $200,000. Finally, ERn Financial LLC acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at approximately $205,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WFC. TD Cowen lowered their price target on shares of Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday, January 15th. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Evercore ISI lowered their price target 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. Freedom Capital downgraded Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 15th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $100.00 target price on shares of Wells Fargo & Company in a research report on Thursday, January 15th. Thirteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.87.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $87.00 on Friday. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $97.76. The company has a market capitalization of $273.11 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.95 and a beta of 1.09. The stock has a fifty day moving average of $90.33 and a two-hundred day moving average of $84.97. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.84 and a current ratio of 0.90.

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

Wells Fargo & Company Dividend Announcement

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

Wells Fargo & Company Profile

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.