United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Boosts Position in Wells Fargo & Company $WFC

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund raised its position in Wells Fargo & Company (NYSE:WFC) by 100.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 530,615 shares of the financial services provider’s stock after acquiring an additional 266,396 shares during the quarter. Wells Fargo & Company makes up 1.6% of United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s portfolio, making the stock its 22nd biggest holding. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Wells Fargo & Company were worth $44,476,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in WFC. Hilton Capital Management LLC bought a new stake in Wells Fargo & Company during the second quarter valued at about $3,656,000. Mawer Investment Management Ltd. bought a new position in shares of Wells Fargo & Company in the third quarter worth about $147,165,000. Guerra Advisors Inc lifted its position in shares of Wells Fargo & Company by 43.2% during the 3rd quarter. Guerra Advisors Inc now owns 38,439 shares of the financial services provider’s stock valued at $3,222,000 after buying an additional 11,594 shares in the last quarter. AlphaQuest LLC lifted its position in shares of Wells Fargo & Company by 1,121.0% during the 3rd quarter. AlphaQuest LLC now owns 24,079 shares of the financial services provider’s stock valued at $2,018,000 after buying an additional 22,107 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Wells Fargo & Company by 52.7% during the 3rd quarter. UMB Bank n.a. now owns 138,862 shares of the financial services provider’s stock valued at $11,639,000 after acquiring an additional 47,946 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their target price on shares of Wells Fargo & Company from $92.00 to $101.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Wednesday, January 21st. Wolfe Research reissued an “outperform” rating and issued a $109.00 price objective on shares of Wells Fargo & Company in a research note on Wednesday, January 7th. Truist Financial decreased their price objective on shares of Wells Fargo & Company from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, January 15th. Finally, Freedom Capital cut shares of Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 15th. Thirteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.03.

Check Out Our Latest Research Report on WFC

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Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $80.44 on Friday. The firm has a market cap of $248.21 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 0.88 and a beta of 1.08. The firm has a fifty day moving average price of $89.46 and a 200 day moving average price of $86.60. 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 debt-to-equity ratio of 1.05, a quick ratio of 0.90 and a current ratio of 0.90.

Wells Fargo & Company (NYSE:WFCGet Free Report) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The company had revenue of $21.29 billion for the quarter, compared to the consensus estimate of $21.63 billion. During the same period in the previous year, the firm posted $1.43 EPS. Wells Fargo & Company’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Friday, February 6th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, February 6th. Wells Fargo & Company’s payout ratio is currently 28.71%.

Insider Buying and Selling

In other Wells Fargo & Company news, EVP Bridget E. Engle sold 30,000 shares of Wells Fargo & Company stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $87.10, for a total value of $2,613,000.00. Following the sale, the executive vice president owned 83,478 shares of the company’s stock, valued at $7,270,933.80. The trade was a 26.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Ellen R. Patterson sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $87.40, for a total value of $5,244,000.00. Following the sale, the executive vice president directly owned 169,496 shares in the company, valued at $14,813,950.40. This trade represents a 26.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 115,000 shares of company stock worth $10,050,000. Corporate insiders own 0.08% of the company’s stock.

Wells Fargo & Company Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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