USS Investment Management Ltd Has $37.52 Million Stake in Wells Fargo & Company (NYSE:WFC)

USS Investment Management Ltd decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 533,879 shares of the financial services provider's stock after selling 24,843 shares during the quarter. USS Investment Management Ltd's holdings in Wells Fargo & Company were worth $37,524,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of WFC. Rialto Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $26,000. Investment Counsel Co. of Nevada acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $28,000. BNP Paribas acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $28,000. McClarren Financial Advisors Inc. acquired a new position in 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% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 237 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analyst Weigh In

WFC has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Piper Sandler decreased their price objective on shares of Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Raymond James decreased their price objective on shares of Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating for the company in a report on Monday, April 14th. Citigroup decreased their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Finally, Barclays decreased their price objective on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and an average target price of $75.73.

Wells Fargo & Company Stock Up 0.2%

Shares of WFC stock traded up $0.13 during trading on Thursday, reaching $73.32. The company's stock had a trading volume of 9,708,627 shares, compared to its average volume of 17,475,921. The business has a fifty day moving average price of $69.97 and a 200-day moving average price of $72.76. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company has a market cap of $238.60 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 1.18 and a beta of 1.13. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.16. The business had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm's revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 earnings per share. Analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 9th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. Wells Fargo & Company's payout ratio is 28.73%.

Wells Fargo & Company declared that its Board of Directors has authorized a share buyback program on Tuesday, April 29th that permits the company to buyback $40.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 17.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

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.