Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. Lowers Position in Wells Fargo & Company $WFC

Key Points

• Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. has reduced its stake in Wells Fargo & Company by 67.6%, owning only 9,267 shares after selling 19,362 shares in the second quarter.
• Multiple institutional investors have either increased their holdings or initiated positions in Wells Fargo, indicating strong interest with institutional ownership at 75.90%.
• Wells Fargo recently announced a quarterly dividend increase from $0.40 to $0.45, representing an annual yield of 2.3%.

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. reduced its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 67.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,267 shares of the financial services provider's stock after selling 19,362 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s holdings in Wells Fargo & Company were worth $742,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in WFC. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Wells Fargo & Company by 2,735,254.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider's stock worth $76,095,550,000 after buying an additional 949,735,001 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Wells Fargo & Company by 277.4% in the first 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 buying an additional 7,894,919 shares in the last quarter. Strs Ohio acquired a new position in Wells Fargo & Company during the first quarter worth $109,643,000. Canada Pension Plan Investment Board raised its position in Wells Fargo & Company by 34.6% in the first quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider's stock worth $381,016,000 after acquiring an additional 1,365,629 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Wells Fargo & Company by 30.5% in the first quarter. Principal Financial Group Inc. now owns 4,926,423 shares of the financial services provider's stock worth $353,668,000 after acquiring an additional 1,152,181 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Piper Sandler restated an "overweight" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Morgan Stanley downgraded shares of Wells Fargo & Company from an "overweight" rating to an "equal weight" rating and boosted their price objective for the stock from $87.00 to $90.00 in a report on Monday, September 29th. Wall Street Zen upgraded shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a research report on Saturday, October 4th. Weiss Ratings upgraded shares of Wells Fargo & Company from a "hold (c)" rating to a "buy (b)" rating in a research report on Wednesday. Finally, Citigroup boosted their price target on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 23rd. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $85.41.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $77.74 on Friday. The business's fifty day moving average price is $80.63 and its two-hundred day moving average price is $76.53. The stock has a market cap of $249.04 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 1.25 and a beta of 1.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. Wells Fargo & Company has a one year low of $58.42 and a one year high of $86.65.

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

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. Wells Fargo & Company's dividend payout ratio is presently 30.82%.

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.

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