Allianz SE bought a new position in Wells Fargo & Company (NYSE:WFC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 173,185 shares of the financial services provider's stock, valued at approximately $12,194,000.
Other large investors have also recently added to or reduced their stakes in the company. Spinnaker Trust boosted its holdings in Wells Fargo & Company by 1.8% during the fourth quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider's stock valued at $520,000 after acquiring an additional 130 shares during the period. MONECO Advisors LLC increased its stake in Wells Fargo & Company by 1.9% during the fourth quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider's stock valued at $493,000 after acquiring an additional 134 shares during the period. Crown Wealth Group LLC lifted its position in Wells Fargo & Company by 2.2% in the fourth quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider's stock worth $467,000 after purchasing an additional 140 shares during the period. Jacobsen Capital Management raised its stake in shares of Wells Fargo & Company by 2.8% in the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider's stock valued at $381,000 after buying an additional 148 shares in the last quarter. Finally, New Republic Capital LLC boosted its holdings in Wells Fargo & Company by 2.9% during the fourth quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider's stock valued at $369,000 after purchasing an additional 149 shares in the last quarter. Institutional investors own 75.90% of the company's stock.
Wells Fargo & Company Trading Up 1.6 %
NYSE WFC traded up $1.16 during trading on Monday, reaching $71.85. 14,358,663 shares of the stock traded hands, compared to its average volume of 15,912,486. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week 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 firm has a market cap of $234.59 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The stock's 50-day moving average price is $75.84 and its 200 day moving average price is $70.14.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analysts' expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm's quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. Analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.
Wells Fargo & Company Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 29.74%.
Analyst Upgrades and Downgrades
WFC has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Truist Financial increased their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Citigroup dropped their target price on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Compass Point raised their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Finally, Barclays upped their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $74.97.
Get Our Latest Stock Report on Wells Fargo & Company
About Wells Fargo & Company
(
Free Report)
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.
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