Arete Wealth Advisors LLC Raises Holdings in Wells Fargo & Company (NYSE:WFC)

Arete Wealth Advisors LLC grew its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 271.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,233 shares of the financial services provider's stock after buying an additional 17,712 shares during the quarter. Arete Wealth Advisors LLC's holdings in Wells Fargo & Company were worth $1,673,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the stock. Norges Bank bought a new position in Wells Fargo & Company in the 4th quarter valued at $3,365,658,000. Nordea Investment Management AB grew its stake in shares of Wells Fargo & Company by 10.1% during the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider's stock worth $441,983,000 after purchasing an additional 575,892 shares during the period. Two Sigma Advisers LP boosted its stake in Wells Fargo & Company by 730.4% during 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 acquiring an additional 5,237,500 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Wells Fargo & Company by 6.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,464,967 shares of the financial services provider's stock valued at $389,707,000 after buying an additional 352,821 shares in the last quarter. Finally, Korea Investment CORP grew its position in shares of Wells Fargo & Company by 53.9% in the 4th quarter. Korea Investment CORP now owns 3,286,809 shares of the financial services provider's stock valued at $230,865,000 after purchasing an additional 1,150,443 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

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Wells Fargo & Company Trading Down 7.2 %

NYSE WFC traded down $4.76 on Friday, hitting $60.91. The company's stock had a trading volume of 31,028,896 shares, compared to its average volume of 17,232,166. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company's 50-day simple moving average is $74.93 and its 200 day simple moving average is $70.44. The firm has a market cap of $198.89 billion, a P/E ratio of 11.32, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (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 company had revenue of $20.38 billion for the quarter, compared to analysts' expectations of $20.58 billion. During the same quarter in the previous year, the business posted $0.86 EPS. Wells Fargo & Company's revenue was down .5% compared to the same quarter last year. Research analysts predict that Wells Fargo & Company will post 5.89 EPS 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. Shareholders of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.63%. Wells Fargo & Company's payout ratio is presently 29.74%.

Analyst Ratings Changes

A number of research firms have recently issued reports on WFC. Truist Financial lowered their price objective on shares of Wells Fargo & Company from $86.00 to $84.00 and set a "buy" rating on the stock in a report on Friday. Bank of America decreased their target price on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday. UBS Group raised their target price 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. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a report on Thursday. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $75.50.

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.