Mitsubishi UFJ Trust & Banking Corp Has $141.29 Million Stock Position in Wells Fargo & Company $WFC

Key Points

• Mitsubishi UFJ Trust & Banking Corp increased its stake in Wells Fargo by 8.7% to 1,515,961 shares, worth about $141.29 million at the end of the quarter.
• Company insiders sold a total of 115,000 shares in the past 90 days (≈$10.05 million), including EVP Kleber Santos (25,000 shares) and EVP Bridget E. Engle (30,000), leaving insiders with just 0.14% ownership.
• Wells Fargo reported quarterly EPS of $1.60 (vs. $1.58 est.) and revenue of $21.45 billion (slightly below estimates); the stock trades near $80.62 and carries a consensus Moderate Buy rating with an average price target of about $97.75.

Mitsubishi UFJ Trust & Banking Corp lifted its stake in Wells Fargo & Company (NYSE:WFC) by 8.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,515,961 shares of the financial services provider's stock after purchasing an additional 120,916 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Wells Fargo & Company were worth $141,292,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in WFC. Brighton Jones LLC lifted its stake in Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider's stock valued at $4,652,000 after buying an additional 25,436 shares during the period. Jump Financial LLC grew its position in shares of Wells Fargo & Company by 12.9% during the 2nd quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider's stock worth $1,835,000 after buying an additional 2,615 shares during the period. Main Street Financial Solutions LLC increased its stake in shares of Wells Fargo & Company by 111.0% in the 2nd quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider's stock valued at $1,122,000 after acquiring an additional 7,368 shares during the last quarter. Vivaldi Capital Management LP increased its stake in shares of Wells Fargo & Company by 5.4% in the 2nd quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider's stock valued at $259,000 after acquiring an additional 165 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its position in shares of Wells Fargo & Company by 51.2% in the 2nd quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider's stock valued at $2,044,000 after acquiring an additional 8,714 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Wells Fargo & Company news, EVP Kleber Santos sold 25,000 shares of Wells Fargo & Company stock in a transaction dated 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 sale, the executive vice president owned 79,876 shares of the company's stock, valued at $7,006,722.72. This trade represents a 23.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Bridget E. Engle sold 30,000 shares of the business's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $87.10, for a total value of $2,613,000.00. Following the completion of the sale, the executive vice president owned 83,478 shares in the company, valued at approximately $7,270,933.80. This trade represents a 26.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 115,000 shares of company stock worth $10,050,000. Corporate insiders own 0.14% of the company's stock.

Wells Fargo & Company Stock Up 1.5%

Wells Fargo & Company stock opened at $80.62 on Tuesday. The stock has a market capitalization of $248.77 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 0.93 and a beta of 1.06. Wells Fargo & Company has a twelve month low of $68.67 and a twelve month high of $97.76. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12. The company has a 50 day moving average of $81.21 and a 200-day moving average of $86.18.

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 the consensus estimate of $1.58 by $0.02. The company had revenue of $21.45 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 revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.39 earnings per share. On average, equities research analysts anticipate that Wells Fargo & Company will post 6.82 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on WFC shares. KGI Securities lowered shares of Wells Fargo & Company to a "hold" rating in a research note on Thursday, April 16th. TD Cowen lowered their target price on shares of Wells Fargo & Company from $102.00 to $100.00 and set a "hold" rating for the company in a research note on Thursday, January 15th. Wolfe Research reiterated an "outperform" rating and issued a $109.00 target price on shares of Wells Fargo & Company in a report on Wednesday, January 7th. HSBC raised shares of Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $94.00 price target on the stock in a research report on Wednesday, April 1st. Finally, Truist Financial lowered their price objective on shares of Wells Fargo & Company from $98.00 to $94.00 and set a "buy" rating for the company in a research report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $97.75.

About Wells Fargo & Company

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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