North Forty Two & Co. Buys New Shares in Wells Fargo & Company (NYSE:WFC)

North Forty Two & Co. acquired a new position in Wells Fargo & Company (NYSE:WFC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,680 shares of the financial services provider's stock, valued at approximately $750,000.

Several other institutional investors have also recently made changes to their positions in the business. Two Sigma Advisers LP boosted its position in Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider's stock worth $336,375,000 after purchasing an additional 5,237,500 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Wells Fargo & Company by 158.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider's stock valued at $153,069,000 after buying an additional 1,659,716 shares during the period. Artemis Investment Management LLP increased its holdings in Wells Fargo & Company by 410.8% in the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider's stock valued at $96,567,000 after buying an additional 1,105,679 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Wells Fargo & Company by 81.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider's stock worth $111,914,000 after acquiring an additional 889,953 shares in the last quarter. Finally, KBC Group NV grew its position in shares of Wells Fargo & Company by 63.1% during the 4th quarter. KBC Group NV now owns 1,962,302 shares of the financial services provider's stock valued at $137,832,000 after acquiring an additional 758,893 shares during the period. Hedge funds and other institutional investors own 75.90% of the company's stock.

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Analysts Set New Price Targets

WFC has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a report on Thursday, January 16th. Barclays increased their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Piper Sandler raised their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Finally, Compass Point increased their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $74.39.

Wells Fargo & Company Trading Down 0.0 %

Wells Fargo & Company stock traded down $0.01 during trading on Friday, reaching $72.51. The company had a trading volume of 32,620,920 shares, compared to its average volume of 16,441,602. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The stock's 50 day moving average price is $75.95 and its two-hundred day moving average price is $69.42. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market capitalization of $238.43 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion for the quarter, compared to analysts' expectations of $20.58 billion. During the same period in the previous year, the company posted $0.86 earnings per share. The business's revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. Wells Fargo & Company's payout ratio is currently 29.74%.

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.