Mitsubishi UFJ Asset Management Co. Ltd. Has $635.88 Million Stock Holdings in Wells Fargo & Company $WFC

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 4.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,679,408 shares of the financial services provider's stock after buying an additional 263,634 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.21% of Wells Fargo & Company worth $635,880,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Private Wealth Group LLC increased its holdings in shares of Wells Fargo & Company by 2.5% during the fourth quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider's stock valued at $421,000 after acquiring an additional 108 shares in the last quarter. Moss Adams Wealth Advisors LLC lifted its holdings in shares of Wells Fargo & Company by 1.0% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider's stock worth $1,123,000 after purchasing an additional 117 shares in the last quarter. Main Street Group LTD lifted its holdings in shares of Wells Fargo & Company by 36.9% in the 3rd quarter. Main Street Group LTD now owns 438 shares of the financial services provider's stock worth $37,000 after purchasing an additional 118 shares in the last quarter. D Orazio & Associates Inc. grew its position in Wells Fargo & Company by 3.6% in the 3rd quarter. D Orazio & Associates Inc. now owns 3,436 shares of the financial services provider's stock valued at $288,000 after purchasing an additional 118 shares during the period. Finally, Stonebrook Private Inc. grew its position in Wells Fargo & Company by 2.7% in the 3rd quarter. Stonebrook Private Inc. now owns 4,511 shares of the financial services provider's stock valued at $378,000 after purchasing an additional 118 shares during the period. Institutional investors own 75.90% of the company's stock.

Insider Activity at Wells Fargo & Company

In related news, EVP Ellen R. Patterson sold 60,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the completion of the sale, the executive vice president directly owned 169,496 shares of the company's stock, valued at approximately $14,813,950.40. This trade represents a 26.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kleber Santos sold 25,000 shares of the business's stock in a transaction on Friday, February 20th. The stock was sold at an average price of $87.72, for a total value of $2,193,000.00. Following the completion of the transaction, the executive vice president directly owned 79,876 shares in the company, valued at approximately $7,006,722.72. This represents a 23.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 115,000 shares of company stock valued at $10,050,000. 0.14% of the stock is owned by insiders.

Wells Fargo & Company Stock Up 0.9%

WFC opened at $79.88 on Wednesday. Wells Fargo & Company has a fifty-two week low of $71.89 and a fifty-two week high of $97.76. The firm has a market capitalization of $244.45 billion, a P/E ratio of 12.33, a PEG ratio of 0.93 and a beta of 0.96. The company's 50-day moving average is $80.67 and its 200 day moving average is $86.16. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.02. The business had revenue of $11.62 billion during the quarter, compared to the consensus estimate of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The firm's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.39 EPS. Research analysts expect that Wells Fargo & Company will post 6.82 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. Wells Fargo & Company's dividend payout ratio is currently 27.78%.

Analysts Set New Price Targets

A number of analysts have commented on WFC shares. Piper Sandler restated an "overweight" rating and set a $94.00 price target (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. Freedom Capital cut shares of Wells Fargo & Company from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 15th. CICC Research assumed coverage on shares of Wells Fargo & Company in a report on Wednesday, January 14th. They issued a "market perform" rating and a $96.00 target price on the stock. Truist Financial dropped their price target on shares of Wells Fargo & Company from $98.00 to $94.00 and set a "buy" rating on the stock in a research report on Tuesday, March 17th. Finally, HSBC upgraded Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $94.00 price target for the company in a research note on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Wells Fargo & Company has an average rating of "Moderate Buy" and a consensus target price of $97.53.

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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