Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. Trims Holdings in Wells Fargo & Company (NYSE:WFC)

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. decreased its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 93.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,629 shares of the financial services provider's stock after selling 385,213 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s holdings in Wells Fargo & Company were worth $2,055,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $3,365,658,000. Capital Research Global Investors lifted its holdings in Wells Fargo & Company by 932.0% in the fourth 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 period. Massachusetts Financial Services Co. MA lifted its stake in shares of Wells Fargo & Company by 277.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider's stock valued at $771,092,000 after purchasing an additional 7,894,919 shares during the period. GAMMA Investing LLC lifted its stake in shares of Wells Fargo & Company by 7,887.9% in the 1st quarter. GAMMA Investing LLC now owns 3,393,083 shares of the financial services provider's stock valued at $243,589,000 after purchasing an additional 3,350,605 shares during the period. Finally, Northern Trust Corp grew its stake in 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 worth $2,411,992,000 after purchasing an additional 3,307,855 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on WFC shares. Morgan Stanley increased their target price on Wells Fargo & Company from $77.00 to $87.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Piper Sandler reiterated an "overweight" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Evercore ISI restated an "outperform" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Wall Street Zen upgraded Wells Fargo & Company from a "sell" rating to a "hold" rating in a report on Friday. Finally, Phillip Securities cut Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $80.39.

Wells Fargo & Company Price Performance

WFC traded up $2.18 during trading on Tuesday, reaching $82.46. The stock had a trading volume of 22,431,713 shares, compared to its average volume of 17,482,191. The business has a 50-day moving average of $77.14 and a 200-day moving average of $74.24. Wells Fargo & Company has a one year low of $50.15 and a one year high of $83.95. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market cap of $268.33 billion, a PE ratio of 14.12, a PEG ratio of 1.25 and a beta of 1.16.

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

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Friday, May 9th. Wells Fargo & Company's payout ratio is 27.40%.

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 outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 17.2% of its stock through open market purchases. Stock buyback plans are often an indication 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.