Mn Services Vermogensbeheer B.V. Sells 99,200 Shares of Wells Fargo & Company (NYSE:WFC)

Mn Services Vermogensbeheer B.V. lowered its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 6.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,335,300 shares of the financial services provider's stock after selling 99,200 shares during the quarter. Wells Fargo & Company accounts for about 0.7% of Mn Services Vermogensbeheer B.V.'s investment portfolio, making the stock its 21st largest position. Mn Services Vermogensbeheer B.V.'s holdings in Wells Fargo & Company were worth $95,861,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in WFC. Norges Bank bought a new position in Wells Fargo & Company during the fourth quarter worth $3,365,658,000. Capital Research Global Investors grew its position in 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 worth $1,105,218,000 after purchasing an additional 14,210,193 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Wells Fargo & Company by 7,887.9% during the 1st 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 during the period. Northern Trust Corp raised its position in shares of Wells Fargo & Company by 10.7% during 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 last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $198,801,000. 75.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WFC. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $76.00 to $86.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Bank of America lifted their price objective on Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Barclays lowered their price objective on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Truist Financial reduced their target price on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Morgan Stanley lifted 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 note on Wednesday, June 4th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and an average target price of $77.68.

Wells Fargo & Company Price Performance

Shares of WFC traded down $1.70 on Friday, hitting $72.31. The company's stock had a trading volume of 21,164,035 shares, compared to its average volume of 17,503,719. The company has a market capitalization of $235.31 billion, a PE ratio of 13.44, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The company has a 50 day moving average price of $71.42 and a 200 day moving average price of $72.90. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.16. The company had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business's revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.20 earnings per share. On average, research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company announced that its board has authorized a stock repurchase plan on Tuesday, April 29th that authorizes the company to repurchase $40.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 17.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were given a dividend of $0.40 per share. The ex-dividend date was Friday, May 9th. This represents a $1.60 annualized dividend and a yield of 2.21%. Wells Fargo & Company's dividend payout ratio (DPR) is 28.73%.

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.