Nissay Asset Management Corp Japan ADV Has $29.53 Million Position in Wells Fargo & Company $WFC

Key Points

• Nissay Asset Management Corp Japan ADV reduced its holdings in Wells Fargo & Company by 2.0%, owning 411,292 shares worth approximately $29.5 million after selling 8,532 shares in the first quarter.
• Wells Fargo recently reported a quarterly earnings of $1.54 per share, exceeding analysts' expectations, with revenue of $20.82 billion, slightly below the forecast.
• The company also increased its quarterly dividend from $0.40 to $0.45, reflecting a continued commitment to returning value to shareholders.

Nissay Asset Management Corp Japan ADV reduced its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 2.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 411,292 shares of the financial services provider's stock after selling 8,532 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Wells Fargo & Company were worth $29,527,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Safeguard Investment Advisory Group LLC lifted its holdings in Wells Fargo & Company by 2.4% in the 4th quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider's stock valued at $410,000 after acquiring an additional 137 shares during the last quarter. Summit Wealth & Retirement Planning Inc. raised its holdings in Wells Fargo & Company by 4.3% during the 1st quarter. Summit Wealth & Retirement Planning Inc. now owns 3,362 shares of the financial services provider's stock worth $241,000 after buying an additional 139 shares during the period. Nwam LLC raised its holdings in Wells Fargo & Company by 1.6% during the 1st quarter. Nwam LLC now owns 8,806 shares of the financial services provider's stock worth $632,000 after buying an additional 142 shares during the period. PGIM Custom Harvest LLC raised its holdings in Wells Fargo & Company by 3.5% during the 1st quarter. PGIM Custom Harvest LLC now owns 4,225 shares of the financial services provider's stock worth $303,000 after buying an additional 142 shares during the period. Finally, Tradition Wealth Management LLC raised its holdings in Wells Fargo & Company by 0.5% during the 1st quarter. Tradition Wealth Management LLC now owns 30,420 shares of the financial services provider's stock worth $2,184,000 after buying an additional 143 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC traded down $2.85 during mid-day trading on Friday, hitting $78.98. The company's stock had a trading volume of 20,656,880 shares, compared to its average volume of 12,342,975. Wells Fargo & Company has a one year low of $50.22 and a one year high of $84.83. 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 firm has a market capitalization of $253.00 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 1.23 and a beta of 1.25. The stock's 50-day moving average is $80.54 and its two-hundred day moving average is $75.03.

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

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a dividend of $0.45 per share. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 30.82%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on WFC shares. Wall Street Zen upgraded Wells Fargo & Company from a "sell" rating to a "hold" rating in a report on Friday, August 22nd. Raymond James Financial downgraded Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 7th. The Goldman Sachs Group dropped their price objective on Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Cowen restated a "hold" rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Finally, Morgan Stanley increased their price objective on Wells Fargo & Company from $77.00 to $87.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.56.

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.