IFM Investors Pty Ltd Has $50.57 Million Stake in Wells Fargo & Company (NYSE:WFC)

IFM Investors Pty Ltd lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 10.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 704,449 shares of the financial services provider's stock after purchasing an additional 68,116 shares during the period. Wells Fargo & Company accounts for 0.5% of IFM Investors Pty Ltd's holdings, making the stock its 29th biggest holding. IFM Investors Pty Ltd's holdings in Wells Fargo & Company were worth $50,572,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Norges Bank bought a new position in Wells Fargo & Company during the 4th quarter worth $3,365,658,000. Capital Research Global Investors grew its position in shares of Wells Fargo & Company by 932.0% in the 4th quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider's stock valued at $1,105,218,000 after buying an additional 14,210,193 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Wells Fargo & Company by 7,887.9% in the first quarter. GAMMA Investing LLC now owns 3,393,083 shares of the financial services provider's stock valued at $243,589,000 after buying an additional 3,350,605 shares during the period. Northern Trust Corp increased its stake in shares of Wells Fargo & Company by 10.7% in the fourth quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider's stock valued at $2,411,992,000 after buying an additional 3,307,855 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Wells Fargo & Company during the fourth quarter worth about $198,801,000. Institutional investors own 75.90% of the company's stock.

Wall Street Analyst Weigh In

WFC has been the topic of several analyst reports. Citigroup upped their target price on Wells Fargo & Company from $78.00 to $85.00 and gave the company a "neutral" rating in a report on Wednesday. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $72.00 to $88.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. The Goldman Sachs Group lifted their target price on shares of Wells Fargo & Company from $76.00 to $86.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Wells Fargo & Company in a research report on Wednesday, June 18th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $78.33.

Wells Fargo & Company Stock Up 1.2%

WFC stock traded up $0.96 during trading on Friday, reaching $83.32. 11,237,287 shares of the stock were exchanged, compared to its average volume of 17,353,350. The firm's 50 day moving average is $75.07 and its 200 day moving average is $73.35. The firm has a market cap of $271.12 billion, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 1.40 and a beta of 1.16. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $83.95.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.15% and a net margin of 16.19%. The firm had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. The company's quarterly revenue was down 3.4% on a year-over-year basis. As a group, research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a yield of 1.92%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 28.73%.

Wells Fargo & Company declared that its Board of Directors has initiated a share repurchase plan on Tuesday, April 29th that allows the company to buyback $40.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 17.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors 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.