Wells Fargo & Company (NYSE:WFC) Shares Acquired by National Pension Service

National Pension Service boosted its position in Wells Fargo & Company (NYSE:WFC) by 2.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,847,893 shares of the financial services provider’s stock after purchasing an additional 115,732 shares during the quarter. National Pension Service owned about 0.16% of Wells Fargo & Company worth $287,833,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in WFC. LSV Asset Management lifted its stake in Wells Fargo & Company by 40.4% during the fourth quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider’s stock worth $458,162,000 after purchasing an additional 2,677,050 shares during the period. Panagora Asset Management Inc. lifted its stake in Wells Fargo & Company by 131.0% in the third quarter. Panagora Asset Management Inc. now owns 3,453,854 shares of the financial services provider’s stock valued at $141,124,000 after purchasing an additional 1,958,483 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Wells Fargo & Company by 42.7% during the 4th quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock valued at $285,668,000 after buying an additional 1,729,132 shares in the last quarter. Artemis Investment Management LLP boosted its holdings in shares of Wells Fargo & Company by 87.8% during the 4th quarter. Artemis Investment Management LLP now owns 3,314,853 shares of the financial services provider’s stock valued at $163,160,000 after buying an additional 1,549,979 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company in the third quarter worth approximately $54,894,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WFC. Piper Sandler cut their target price on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Raymond James boosted their price objective on Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 16th. Argus boosted their price target on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. The Goldman Sachs Group raised their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, Citigroup reissued a “neutral” rating and set a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Fourteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $58.99.

Wells Fargo & Company Price Performance

Shares of WFC traded up $0.29 during mid-day trading on Thursday, reaching $61.17. 5,509,716 shares of the stock traded hands, compared to its average volume of 18,744,811. The company has a market cap of $213.26 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $37.18 and a 1 year high of $61.76. The firm has a fifty day moving average price of $57.86 and a 200 day moving average price of $50.62. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same quarter last year, the firm earned $1.23 EPS. The company’s revenue was up .6% on a year-over-year basis. As a group, equities research analysts predict that Wells Fargo & Company will post 5.08 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.29%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.