Natixis Advisors LLC raised its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,482,885 shares of the financial services provider's stock after buying an additional 139,659 shares during the period. Natixis Advisors LLC owned about 0.11% of Wells Fargo & Company worth $291,935,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Wells Fargo & Company by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 302,092,955 shares of the financial services provider's stock valued at $24,203,688,000 after acquiring an additional 1,341,222 shares in the last quarter. Norges Bank acquired a new stake in shares of Wells Fargo & Company during the second quarter worth about $3,990,551,000. Massachusetts Financial Services Co. MA lifted its position in shares of Wells Fargo & Company by 7.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 17,859,680 shares of the financial services provider's stock worth $1,496,998,000 after purchasing an additional 1,223,999 shares in the last quarter. Amundi boosted its stake in shares of Wells Fargo & Company by 18.2% in the second quarter. Amundi now owns 14,155,753 shares of the financial services provider's stock valued at $1,165,868,000 after purchasing an additional 2,180,693 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its stake in shares of Wells Fargo & Company by 1.1% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 8,469,766 shares of the financial services provider's stock valued at $678,598,000 after purchasing an additional 88,358 shares during the period. Hedge funds and other institutional investors own 75.90% of the company's stock.
Analysts Set New Price Targets
WFC has been the topic of several recent research reports. CICC Research initiated coverage on shares of Wells Fargo & Company in a research note on Wednesday, January 14th. They set a "market perform" rating and a $96.00 target price on the stock. TD Cowen decreased their price target on shares of Wells Fargo & Company from $102.00 to $100.00 and set a "hold" rating for the company in a research report on Thursday, January 15th. Argus boosted their price target on shares of Wells Fargo & Company from $94.00 to $101.00 and gave the stock a "buy" rating in a research note on Thursday, January 15th. Barclays upped their price objective on Wells Fargo & Company from $94.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday, January 5th. Finally, Robert W. Baird upgraded Wells Fargo & Company from an "underperform" rating to a "neutral" rating and set a $85.00 target price for the company in a report on Friday, February 13th. Thirteen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $97.03.
View Our Latest Stock Report on Wells Fargo & Company
Wells Fargo & Company Price Performance
WFC stock opened at $80.44 on Friday. The business has a 50 day moving average price of $89.46 and a 200 day moving average price of $86.60. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.05. The stock has a market cap of $248.21 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 0.88 and a beta of 1.08. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $97.76.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, beating the consensus estimate of $1.66 by $0.10. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The company had revenue of $21.29 billion for the quarter, compared to analyst estimates of $21.63 billion. During the same period in the prior year, the firm posted $1.43 earnings per share. The firm's revenue was up 4.5% on a year-over-year basis. Equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.
Wells Fargo & Company Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Friday, February 6th were issued a $0.45 dividend. The ex-dividend date was Friday, February 6th. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. Wells Fargo & Company's dividend payout ratio is presently 28.71%.
Insider Activity at Wells Fargo & Company
In related news, EVP Kleber Santos sold 25,000 shares of the business's stock in a transaction on Friday, February 20th. The shares were sold at an average price of $87.72, for a total value of $2,193,000.00. Following the completion of the sale, the executive vice president directly owned 79,876 shares of the company's stock, valued at $7,006,722.72. The trade was a 23.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bridget E. Engle sold 30,000 shares of the company's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the completion of the transaction, the executive vice president owned 83,478 shares of the company's stock, valued at $7,270,933.80. This represents a 26.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 115,000 shares of company stock valued at $10,050,000 in the last ninety days. Insiders own 0.08% of the company's stock.
Key Wells Fargo & Company News
Here are the key news stories impacting Wells Fargo & Company this week:
Wells Fargo & Company Company Profile
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Free Report)
Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.
Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.
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