Healthcare of Ontario Pension Plan Trust Fund reduced its stake in Wells Fargo & Company (NYSE:WFC) by 23.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 1,935,384 shares of the financial services provider's stock after selling 587,710 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.06% of Wells Fargo & Company worth $154,076,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Wells Fargo & Company by 19.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 532,300 shares of the financial services provider's stock worth $49,610,000 after buying an additional 84,902 shares during the period. Swiss Life Asset Management Ltd raised its holdings in Wells Fargo & Company by 4.2% during the 4th quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider's stock valued at $32,673,000 after acquiring an additional 14,168 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in shares of Wells Fargo & Company by 4.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider's stock worth $38,446,000 after acquiring an additional 17,302 shares in the last quarter. Norges Bank purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth $4,512,563,000. Finally, Winning Points Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth $3,384,000. Institutional investors own 75.90% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on WFC shares. UBS Group reduced their price target on Wells Fargo & Company from $105.00 to $104.00 and set a "buy" rating for the company in a research report on Tuesday, July 7th. Phillip Securities raised Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, May 7th. Piper Sandler restated an "overweight" rating and issued a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. Bank of America lifted their target price on Wells Fargo & Company from $95.00 to $102.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Finally, 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 research report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of "Moderate Buy" and a consensus target price of $98.50.
Get Our Latest Analysis on Wells Fargo & Company
Wells Fargo & Company Stock Up 0.2%
Shares of NYSE:WFC opened at $86.39 on Friday. The firm has a fifty day moving average price of $82.72 and a two-hundred day moving average price of $83.51. The company has a market cap of $264.37 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 0.94 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76.
Wells Fargo & Company Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company's dividend payout ratio (DPR) is 26.16%.
About Wells Fargo & Company
(
Free Report)
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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