United Services Automobile Association Sells 1,518 Shares of Wells Fargo & Company (NYSE:WFC)

United Services Automobile Association decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,455 shares of the financial services provider’s stock after selling 1,518 shares during the period. United Services Automobile Association’s holdings in Wells Fargo & Company were worth $5,511,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of WFC. Nordea Investment Management AB raised its position in shares of Wells Fargo & Company by 10.1% in the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock worth $441,983,000 after acquiring an additional 575,892 shares in the last quarter. Two Sigma Advisers LP grew its stake in Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after purchasing an additional 5,237,500 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in Wells Fargo & Company by 158.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock valued at $153,069,000 after purchasing an additional 1,659,716 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in Wells Fargo & Company by 14.1% in the fourth quarter. Teacher Retirement System of Texas now owns 2,229,521 shares of the financial services provider’s stock worth $156,602,000 after purchasing an additional 274,886 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in shares of Wells Fargo & Company by 81.6% during the third quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider’s stock valued at $111,914,000 after buying an additional 889,953 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on WFC shares. The Goldman Sachs Group lifted their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Piper Sandler lifted their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Barclays increased their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Truist Financial boosted their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Thursday, March 13th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.39.

Wells Fargo & Company Trading Down 0.0 %

Shares of Wells Fargo & Company stock opened at $72.51 on Monday. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market cap of $238.43 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The firm has a fifty day moving average price of $75.95 and a 200 day moving average price of $69.50.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wells Fargo & Company Company Profile

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.