Wells Fargo & Company (NYSE:WFC) Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. decreased its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 21.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 12,235 shares of the financial services provider's stock after selling 3,294 shares during the period. Migdal Insurance & Financial Holdings Ltd.'s holdings in Wells Fargo & Company were worth $874,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $3,365,658,000. Northern Trust Corp increased its position in Wells Fargo & Company by 10.7% in the 4th quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider's stock valued at $2,411,992,000 after acquiring an additional 3,307,855 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Wells Fargo & Company by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 20,369,222 shares of the financial services provider's stock worth $1,430,742,000 after buying an additional 238,131 shares during the period. Capital Research Global Investors increased its position in shares of Wells Fargo & Company by 932.0% during the fourth quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider's stock worth $1,105,218,000 after buying an additional 14,210,193 shares during the period. Finally, Capital World Investors boosted its stake in Wells Fargo & Company by 0.4% during the fourth quarter. Capital World Investors now owns 13,914,098 shares of the financial services provider's stock worth $977,338,000 after acquiring an additional 62,099 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

WFC traded up $0.93 during trading on Friday, reaching $80.64. 21,202,185 shares of the company traded hands, compared to its average volume of 17,458,807. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.84 and a current ratio of 0.84. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $83.95. The firm has a fifty day simple moving average of $77.14 and a 200 day simple moving average of $74.18. The company has a market cap of $262.42 billion, a P/E ratio of 13.81, a PEG ratio of 1.34 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.13. The company had revenue of $20.82 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $1.33 earnings per share. On average, equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

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

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, May 9th. This represents a $1.60 annualized dividend and a dividend yield of 1.98%. Wells Fargo & Company's dividend payout ratio is currently 27.40%.

Analyst Ratings Changes

WFC has been the subject of several analyst reports. Dbs Bank upgraded shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a report on Thursday. Phillip Securities downgraded shares of Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday. Cowen restated a "hold" rating on shares of Wells Fargo & Company in a research report on Wednesday. Truist Financial lifted their target price on shares of Wells Fargo & Company from $83.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Evercore ISI reiterated an "outperform" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $80.39.

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.