Universal Beteiligungs und Servicegesellschaft mbH Acquires New Position in Wells Fargo & Company (NYSE:WFC)

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,830,304 shares of the financial services provider's stock, valued at approximately $198,801,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.09% of Wells Fargo & Company at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $26,000. Investment Counsel Co. of Nevada bought a new position in Wells Fargo & Company during the fourth quarter worth $28,000. BNP Paribas bought a new position in Wells Fargo & Company during the fourth quarter worth $28,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $30,000. Finally, Rakuten Securities Inc. lifted its holdings in shares of Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock worth $30,000 after buying an additional 237 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WFC has been the topic of several research reports. Truist Financial reduced their price target on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Royal Bank of Canada raised Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target on the stock in a report on Thursday, March 13th. JPMorgan Chase & Co. decreased their price objective on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Citigroup decreased their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Finally, Bank of America reduced their price target on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Seven investment 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 stock. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.73.

Wells Fargo & Company Stock Up 0.1%

Shares of Wells Fargo & Company stock traded up $0.11 during trading on Friday, reaching $74.62. The company's stock had a trading volume of 17,037,870 shares, compared to its average volume of 17,473,472. The company has a 50-day simple moving average of $70.07 and a two-hundred day simple moving average of $72.90. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company has a market cap of $242.83 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 1.18 and a beta of 1.13.

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

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 9th will be given a $0.40 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.14%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 28.73%.

Wells Fargo & Company declared that its board has approved a stock repurchase plan on Tuesday, April 29th that allows the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 17.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

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.