Nisa Investment Advisors LLC Boosts Holdings in Wells Fargo & Company (NYSE:WFC)

Nisa Investment Advisors LLC raised its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 9.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 988,082 shares of the financial services provider's stock after acquiring an additional 82,324 shares during the quarter. Nisa Investment Advisors LLC's holdings in Wells Fargo & Company were worth $70,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Investment Counsel Co. of Nevada purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth about $28,000. BNP Paribas purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $28,000. Rakuten Securities Inc. increased its holdings in shares of Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock worth $30,000 after buying an additional 237 shares during the last quarter. Parvin Asset Management LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $32,000. Finally, Dunhill Financial LLC lifted its holdings in shares of Wells Fargo & Company by 63.7% during the 4th quarter. Dunhill Financial LLC now owns 496 shares of the financial services provider's stock worth $35,000 after acquiring an additional 193 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WFC. The Goldman Sachs Group reiterated a "buy" rating and set a $86.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Bank of America boosted their price objective on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Barclays decreased their target price on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, Morgan Stanley raised their price objective on Wells Fargo & Company from $77.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of "Moderate Buy" and a consensus target price of $80.13.

Wells Fargo & Company Stock Performance

WFC traded up $0.19 during mid-day trading on Friday, reaching $82.55. 12,577,498 shares of the company traded hands, compared to its average volume of 17,411,040. The stock has a market capitalization of $268.63 billion, a P/E ratio of 14.82, a P/E/G ratio of 1.39 and a beta of 1.16. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $83.95. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The company's fifty day moving average price is $76.41 and its 200-day moving average price is $73.85.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.15% and a net margin of 16.19%. The business had revenue of $20.15 billion for the quarter, compared to analysts' expectations of $20.82 billion. During the same period last year, the firm posted $1.20 earnings per share. The business's revenue for the quarter was down 3.4% on a year-over-year basis. On average, sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.60 annualized dividend and a yield of 1.94%. Wells Fargo & Company's payout ratio is presently 28.73%.

Wells Fargo & Company declared that its board has authorized a share buyback plan on Tuesday, April 29th that authorizes the company to buyback $40.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 17.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

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.