Fox Run Management L.L.C. Increases Stake in Wells Fargo & Company $WFC

Key Points

• Fox Run Management L.L.C. increased its Wells Fargo stake by 729.1% in the fourth quarter, ending with 23,081 shares valued at about $2.15 million.
• Institutional interest in Wells Fargo remains strong, with major investors like Norges Bank and Capital Research Global Investors also adding or holding large positions; hedge funds and other institutions own 75.9% of the stock.
• Analysts are still generally positive on WFC, with a Moderate Buy consensus and an average price target of $97.53, even as some firms trimmed targets. Wells Fargo also recently beat earnings estimates and continues to pay a 2.2% dividend yield.

Fox Run Management L.L.C. boosted its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 729.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,081 shares of the financial services provider's stock after acquiring an additional 20,297 shares during the quarter. Wells Fargo & Company accounts for 0.3% of Fox Run Management L.L.C.'s holdings, making the stock its 23rd largest position. Fox Run Management L.L.C.'s holdings in Wells Fargo & Company were worth $2,151,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in Wells Fargo & Company during the fourth quarter valued at approximately $4,512,563,000. Capital Research Global Investors raised its position in Wells Fargo & Company by 4.9% during the fourth quarter. Capital Research Global Investors now owns 37,421,387 shares of the financial services provider's stock valued at $3,487,687,000 after acquiring an additional 1,760,484 shares in the last quarter. Legal & General Group Plc raised its position in Wells Fargo & Company by 0.9% during the fourth quarter. Legal & General Group Plc now owns 21,197,423 shares of the financial services provider's stock valued at $1,975,600,000 after acquiring an additional 188,186 shares in the last quarter. Boston Partners raised its position in Wells Fargo & Company by 1.9% during the third quarter. Boston Partners now owns 9,128,470 shares of the financial services provider's stock valued at $763,675,000 after acquiring an additional 174,350 shares in the last quarter. Finally, Davis Selected Advisers grew its holdings in Wells Fargo & Company by 6.1% in the fourth quarter. Davis Selected Advisers now owns 8,258,031 shares of the financial services provider's stock valued at $769,649,000 after purchasing an additional 471,979 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

More Wells Fargo & Company News

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

• Positive Sentiment: Wells Fargo is included in a planned tokenized deposit network with JPMorgan, Bank of America and Citigroup, a move that could help large banks compete with stablecoins and improve payments infrastructure by 2027. Big Banks Eye Tokenized Deposits as Stablecoin Competition Heats Up
• Positive Sentiment: Analysts remain constructive on WFC, with Bank of America Securities reiterating a Buy rating and an unchanged $95 price target, citing attractive risk/reward. Wells Fargo: Buy Rating Reiterated as Analyst Sees Attractive Risk‑Reward with Unchanged $95 Price Target
• Positive Sentiment: Some commentary says Wells Fargo looks more attractive as recession fears ease, which supports the bank’s earnings outlook and broader sector sentiment. Wells Fargo (WFC) Looks Attractive as Recession Fears Ease

Analysts Set New Price Targets

Several analysts have commented on WFC shares. Truist Financial dropped their price objective on Wells Fargo & Company from $98.00 to $94.00 and set a "buy" rating on the stock in a report on Tuesday, March 17th. Morgan Stanley dropped their price objective on Wells Fargo & Company from $108.00 to $100.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 31st. Jefferies Financial Group started coverage on shares of Wells Fargo & Company in a report on Thursday, March 26th. They issued a "buy" rating and a $100.00 price target for the company. The Goldman Sachs Group cut their price target on shares of Wells Fargo & Company from $109.00 to $93.00 and set a "buy" rating for the company in a report on Monday, March 23rd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a research report on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $97.53.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $80.95 on Tuesday. The stock's fifty day moving average is $79.24 and its two-hundred day moving average is $84.69. The firm has a market capitalization of $247.71 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. Wells Fargo & Company has a fifty-two week low of $71.93 and a fifty-two week high of $97.76.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.02. The company had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The firm's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 earnings per share. On average, research analysts anticipate that Wells Fargo & Company will post 6.84 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. Wells Fargo & Company's payout ratio is 27.78%.

Wells Fargo & Company 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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