USS Investment Management Ltd Lowers Position in Wells Fargo & Co (NYSE:WFC)

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USS Investment Management Ltd lowered its holdings in Wells Fargo & Co (NYSE:WFC) by 21.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,898,954 shares of the financial services provider’s stock after selling 778,916 shares during the period. Wells Fargo & Co makes up 1.5% of USS Investment Management Ltd’s investment portfolio, making the stock its 24th largest position. USS Investment Management Ltd owned about 0.07% of Wells Fargo & Co worth $155,920,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Boston Partners increased its position in shares of Wells Fargo & Co by 7.2% during the 3rd quarter. Boston Partners now owns 21,203,872 shares of the financial services provider’s stock valued at $1,069,832,000 after purchasing an additional 1,417,096 shares during the last quarter. Sanders Capital LLC increased its position in shares of Wells Fargo & Co by 13.0% during the 4th quarter. Sanders Capital LLC now owns 19,987,319 shares of the financial services provider’s stock valued at $1,190,684,000 after purchasing an additional 2,304,769 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Wells Fargo & Co by 6.9% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 12,370,499 shares of the financial services provider’s stock valued at $623,968,000 after purchasing an additional 796,884 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Wells Fargo & Co by 25.4% during the 3rd quarter. California Public Employees Retirement System now owns 9,574,833 shares of the financial services provider’s stock valued at $482,955,000 after purchasing an additional 1,936,599 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Wells Fargo & Co by 1.3% during the 3rd quarter. Rhumbline Advisers now owns 6,990,197 shares of the financial services provider’s stock valued at $352,586,000 after purchasing an additional 92,770 shares during the last quarter. 75.69% of the stock is currently owned by hedge funds and other institutional investors.

NYSE WFC traded up $0.10 on Friday, hitting $48.22. The company’s stock had a trading volume of 15,465,703 shares, compared to its average volume of 20,914,293. Wells Fargo & Co has a 52-week low of $43.34 and a 52-week high of $54.75. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The company’s 50-day simple moving average is $50.12 and its 200 day simple moving average is $50.11. The firm has a market cap of $202.04 billion, a P/E ratio of 12.00, a PEG ratio of 1.09 and a beta of 1.12.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings data on Tuesday, January 14th. The financial services provider reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.17). Wells Fargo & Co had a return on equity of 12.11% and a net margin of 18.81%. The business had revenue of $19.86 billion during the quarter, compared to analysts’ expectations of $20.11 billion. During the same quarter last year, the business posted $1.21 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, research analysts forecast that Wells Fargo & Co will post 4.08 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 7th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 4.23%. The ex-dividend date is Thursday, February 6th. Wells Fargo & Co’s dividend payout ratio (DPR) is currently 46.58%.

Several equities analysts have recently commented on WFC shares. Morgan Stanley reduced their price objective on Wells Fargo & Co from $56.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 15th. Credit Suisse Group reduced their price objective on Wells Fargo & Co from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Piper Sandler lowered Wells Fargo & Co from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $60.00 to $52.00 in a research report on Wednesday, January 15th. Raymond James lowered Wells Fargo & Co from a “market perform” rating to an “underperform” rating in a research report on Monday, December 2nd. Finally, Robert W. Baird upgraded Wells Fargo & Co from an “underperform” rating to a “neutral” rating and set a $50.00 price objective on the stock in a research report on Tuesday, January 28th. Seven equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $49.88.

Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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