Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. Has $29.07 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. increased its position in Wells Fargo & Company (NYSE:WFC) by 6,675.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 413,842 shares of the financial services provider's stock after purchasing an additional 407,734 shares during the quarter. Wells Fargo & Company makes up about 3.5% of Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s portfolio, making the stock its 10th biggest position. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s holdings in Wells Fargo & Company were worth $29,068,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WFC. Empowered Funds LLC raised its stake in Wells Fargo & Company by 19.1% in the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock worth $13,369,000 after acquiring an additional 30,510 shares during the last quarter. Valmark Advisers Inc. raised its position in Wells Fargo & Company by 5.5% during the fourth quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider's stock valued at $583,000 after acquiring an additional 431 shares in the last quarter. NatWest Group plc lifted its holdings in Wells Fargo & Company by 57.7% in the fourth quarter. NatWest Group plc now owns 172,484 shares of the financial services provider's stock valued at $12,115,000 after acquiring an additional 63,102 shares during the period. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $1,656,000. Finally, Modera Wealth Management LLC increased its holdings in shares of Wells Fargo & Company by 14.1% during the 4th quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider's stock valued at $1,444,000 after purchasing an additional 2,548 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $76.05 on Tuesday. The business has a 50 day simple moving average of $69.74 and a 200-day simple moving average of $72.67. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The company has a market capitalization of $247.48 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.18 and a beta of 1.13. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

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

Wells Fargo & Company announced that its Board of Directors has approved a stock buyback plan on Tuesday, April 29th that permits the company to repurchase $40.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 17.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 9th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.10%. Wells Fargo & Company's payout ratio is currently 28.73%.

Analyst Ratings Changes

A number of research firms have recently commented on WFC. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. Citigroup lowered their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Truist Financial reduced their target price on shares of Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada upgraded Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target for the company in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and an average target price of $75.73.

Wells Fargo & Company 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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