Alyeska Investment Group L.P. Acquires New Stake in Wells Fargo & Company (NYSE:WFC)

Alyeska Investment Group L.P. purchased a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 768,452 shares of the financial services provider's stock, valued at approximately $53,976,000.

A number of other institutional investors and hedge funds also recently modified their holdings of WFC. Aptus Capital Advisors LLC boosted its position in shares of Wells Fargo & Company by 2.9% in the fourth quarter. Aptus Capital Advisors LLC now owns 28,685 shares of the financial services provider's stock worth $2,015,000 after buying an additional 813 shares during the period. Atalanta Sosnoff Capital LLC boosted its position in Wells Fargo & Company by 43.7% during the 4th quarter. Atalanta Sosnoff Capital LLC now owns 13,559 shares of the financial services provider's stock worth $952,000 after acquiring an additional 4,124 shares during the period. AXA S.A. grew its stake in Wells Fargo & Company by 28.3% during the 4th quarter. AXA S.A. now owns 287,194 shares of the financial services provider's stock valued at $20,173,000 after acquiring an additional 63,321 shares in the last quarter. South Plains Financial Inc. acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $284,000. Finally, Blue Rock Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $364,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Analyst Ratings Changes

WFC has been the topic of a number of research reports. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the stock an "overweight" rating in a research note on Monday, April 7th. Truist Financial decreased their price target on shares of Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Barclays dropped their price target on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. cut their target price on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Finally, Bank of America lowered their price target on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $75.34.

Wells Fargo & Company Trading Down 0.5 %

WFC stock traded down $0.37 during midday trading on Tuesday, reaching $73.48. The stock had a trading volume of 18,047,833 shares, compared to its average volume of 17,547,334. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The business has a fifty day simple moving average of $69.25 and a two-hundred day simple moving average of $72.00. 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 firm has a market cap of $239.12 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.18 and a beta of 1.13.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.16. The firm had revenue of $20.15 billion for the quarter, compared to analysts' expectations of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business's revenue for the quarter was down 3.4% on a year-over-year basis. During the same period last year, the firm earned $1.20 earnings per share. As a group, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Wells Fargo & Company announced that its board has approved a share buyback plan on Tuesday, April 29th that permits the company to repurchase $40.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 17.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Wells Fargo & 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.