Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust Makes New Investment in Wells Fargo & Company $WFC

Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 102,503 shares of the financial services provider’s stock, valued at approximately $8,205,000. Wells Fargo & Company comprises approximately 2.0% of Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust’s investment portfolio, making the stock its 22nd biggest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capstone Financial Advisors Inc. lifted its position in Wells Fargo & Company by 3.5% in the second quarter. Capstone Financial Advisors Inc. now owns 3,354 shares of the financial services provider’s stock valued at $277,000 after buying an additional 113 shares during the last quarter. MFA Wealth Services boosted its stake in Wells Fargo & Company by 0.7% during the second quarter. MFA Wealth Services now owns 16,712 shares of the financial services provider’s stock worth $1,381,000 after buying an additional 115 shares during the period. Hidden Cove Wealth Management LLC boosted its stake in Wells Fargo & Company by 1.8% during the second quarter. Hidden Cove Wealth Management LLC now owns 6,846 shares of the financial services provider’s stock worth $566,000 after buying an additional 124 shares during the period. Essex Bank increased its position in shares of Wells Fargo & Company by 0.8% during the first quarter. Essex Bank now owns 16,173 shares of the financial services provider’s stock valued at $1,288,000 after acquiring an additional 125 shares during the last quarter. Finally, Five Oceans Advisors increased its position in shares of Wells Fargo & Company by 3.6% during the second quarter. Five Oceans Advisors now owns 3,625 shares of the financial services provider’s stock valued at $300,000 after acquiring an additional 125 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $81.80 on Tuesday. The business has a 50-day moving average of $85.14 and a 200 day moving average of $83.36. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76. The stock has a market capitalization of $247.36 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 0.90 and a beta of 0.96. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.89 and a quick ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, October 13th. The financial services provider reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.02. The company had revenue of $21.87 billion during the quarter, compared to the consensus estimate of $22.30 billion. Wells Fargo & Company had a return on equity of 14.05% and a net margin of 17.64%. Wells Fargo & Company’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.66 EPS. As a group, sell-side analysts forecast that Wells Fargo & Company will post 7.28 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th were given a dividend of $0.50 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, August 7th. Wells Fargo & Company’s dividend payout ratio is currently 28.21%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WFC. Bank of America boosted their price target on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. UBS Group dropped their target price on shares of Wells Fargo & Company from $104.00 to $102.00 and set a “buy” rating for the company in a report on Monday, October 5th. JPMorgan Chase & Co. cut their target price on Wells Fargo & Company from $95.50 to $91.50 and set a “neutral” rating on the stock in a research report on Friday, October 2nd. Keefe, Bruyette & Woods cut their target price on Wells Fargo & Company from $94.00 to $90.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 14th. Finally, Royal Bank Of Canada decreased their price target on Wells Fargo & Company from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.08.

About Wells Fargo & Company

Wells Fargo & Company is a diversified financial services company that provides banking, lending, investment, and financial management services to individuals, businesses, and institutions. Its offerings include deposit accounts, residential and commercial lending, credit cards, payments, treasury management, and other banking products.

The company also provides wealth and investment management services, including financial planning, brokerage, advisory, and private banking solutions.