19,795,267 Shares in Wells Fargo & Company $WFC Acquired by Legal & General Group Plc

Key Points

• Legal & General Group Plc acquired 19.8 million Wells Fargo shares worth approximately $1.64 billion, giving it a 0.65% stake. Institutional investors and hedge funds collectively own 75.9% of WFC.
• Wells Fargo reported quarterly EPS of $1.96 versus the $1.73 consensus, while revenue reached $22.62 billion and increased 8.6% year over year.
• The bank raised its quarterly dividend from $0.45 to $0.50 per share, equivalent to a $2.00 annualized payout and a 2.3% yield; analysts maintain a “Moderate Buy” consensus with an average $98.61 price target.

Legal & General Group Plc acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 19,795,267 shares of the financial services provider's stock, valued at approximately $1,635,881,000. Legal & General Group Plc owned approximately 0.65% of Wells Fargo & Company as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Wells Fargo & Company by 62.3% during the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider's stock worth $4,652,000 after acquiring an additional 25,436 shares in the last quarter. Jump Financial LLC raised its position in shares of Wells Fargo & Company by 12.9% in the second quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider's stock valued at $1,835,000 after purchasing an additional 2,615 shares during the period. Main Street Financial Solutions LLC raised its holdings in Wells Fargo & Company by 111.0% in the 2nd quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider's stock worth $1,122,000 after acquiring an additional 7,368 shares during the period. Vivaldi Capital Management LP increased its stake in shares of Wells Fargo & Company by 5.4% in the second quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider's stock worth $259,000 after purchasing an additional 165 shares during the period. Finally, Diversify Advisory Services LLC lifted its holdings in shares of Wells Fargo & Company by 51.2% during the second quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider's stock worth $2,044,000 after buying an additional 8,714 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Key Headlines Impacting Wells Fargo & Company

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Profitability momentum: Wells Fargo has improved return on tangible common equity (ROTCE) from 8% in late 2020 to 14.6% at the end of 2025 and is targeting 17%–18%. Sustaining those gains could support a higher valuation as regulatory and restructuring burdens ease. Wells Fargo Hits 17%-18% ROTCE Target: Can It Sustain the Momentum?
• Positive Sentiment: Valuation appeal: An analyst comparison characterized WFC as offering a lower valuation and improving efficiency than PNC Financial, potentially giving Wells Fargo more upside if earnings remain strong. The bank’s latest reported quarter also exceeded consensus estimates for both earnings and revenue, with revenue up year over year. Wells Fargo vs. PNC Financial: Which Stock Offers Better Upside Now?
• Neutral Sentiment: Acquisition speculation: Wells Fargo has become a focus of broader banking-sector merger speculation, including possible interest involving Citizens Financial. No transaction has been announced, so the development provides limited immediate fundamental impact. Wells Fargo at center of attention as acquisition speculation rises in banking sector
• Neutral Sentiment: Community investments: New affordable-housing and financial-education commitments in North Dakota and Wyoming reinforce Wells Fargo’s community-banking initiatives but are unlikely to materially affect near-term earnings. Wells Fargo Expands Affordable Senior Housing and Financial Education With $1.2 Million in North Dakota
• Negative Sentiment: Commercial real estate exposure: Wells Fargo is foreclosing on Workspace Property Trust’s roughly $1.3 billion property portfolio after declining occupancy and asset values increased financial stress. The move may enable collateral recovery, but it also underscores potential losses and credit risks in the bank’s commercial real estate book. Wells Fargo Forecloses On $1.3B Workspace Property Trust Loan

Wall Street Analyst Weigh In

WFC has been the subject of several recent research reports. Morgan Stanley upped their price target on Wells Fargo & Company from $97.00 to $102.00 and gave the company an "equal weight" rating in a report on Monday, June 29th. Weiss Ratings restated a "buy (b)" rating on shares of Wells Fargo & Company in a research report on Friday, July 17th. Wall Street Zen upgraded Wells Fargo & Company from a "sell" rating to a "hold" rating in a research note on Sunday, June 14th. Bank of America raised their target price on Wells Fargo & Company from $95.00 to $102.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Wells Fargo & Company from $98.00 to $94.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $98.61.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $85.24 on Thursday. Wells Fargo & Company has a 52 week low of $72.78 and a 52 week high of $97.76. The stock has a market capitalization of $257.77 billion, a PE ratio of 12.39, a PEG ratio of 0.92 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. The stock's fifty day moving average is $86.13 and its 200-day moving average is $82.75.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.73 by $0.23. The business had revenue of $22.62 billion during the quarter, compared to analysts' expectations of $21.86 billion. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.60 earnings per share. Equities research analysts expect that Wells Fargo & Company will post 7.26 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, August 7th. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.45. Wells Fargo & Company's dividend payout ratio is 29.07%.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

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