Lansforsakringar Fondforvaltning AB publ Has $78.74 Million Position in Wells Fargo & Company $WFC

Key Points

• Lansforsakringar Fondforvaltning AB publi trimmed its position in Wells Fargo & Company by 2.6%, owning 1,096,775 shares worth approximately $78.74 million as of the latest filing.
• Major institutional investors have increased their positions in Wells Fargo, including Massachusetts Financial Services with a **277.4% boost** and GAMMA Investing LLC raising its stake by **7,887.9%** in recent quarters.
• Wells Fargo recently announced an increase in its quarterly dividend to $0.45 per share, reflecting a positive change from the previous dividend and a yield of **2.2%**.

Lansforsakringar Fondforvaltning AB publ trimmed its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 2.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,096,775 shares of the financial services provider's stock after selling 28,883 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Wells Fargo & Company were worth $78,737,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WFC. Massachusetts Financial Services Co. MA boosted its position in shares of Wells Fargo & Company by 277.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider's stock worth $771,092,000 after purchasing an additional 7,894,919 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Wells Fargo & Company by 7,887.9% during the first quarter. GAMMA Investing LLC now owns 3,393,083 shares of the financial services provider's stock worth $243,589,000 after purchasing an additional 3,350,605 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Wells Fargo & Company during the fourth quarter worth $198,801,000. Theleme Partners LLP bought a new position in shares of Wells Fargo & Company during the fourth quarter worth $187,049,000. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Wells Fargo & Company during the fourth quarter worth $117,280,000. 75.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of recent analyst reports. Piper Sandler reissued an "overweight" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Cowen reaffirmed a "hold" rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Wall Street Zen raised shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. Truist Financial boosted their price objective on shares of Wells Fargo & Company from $83.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and an average price target of $81.58.

Wells Fargo & Company Stock Up 1.3%

Wells Fargo & Company stock opened at $82.58 on Thursday. The firm has a market capitalization of $264.54 billion, a PE ratio of 14.14, a P/E/G ratio of 1.27 and a beta of 1.20. The company's 50-day moving average is $80.03 and its 200-day moving average is $74.98. Wells Fargo & Company has a fifty-two week low of $50.22 and a fifty-two week high of $84.83. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.13. The company had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. Wells Fargo & Company's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.33 EPS. Sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 8th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, August 8th. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. Wells Fargo & Company's payout ratio is presently 30.82%.

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.

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