Wells Fargo & Company (NYSE:WFC) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership decreased its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 80.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,012,487 shares of the financial services provider's stock after selling 20,043,028 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.15% of Wells Fargo & Company worth $352,077,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of WFC. Empowered Funds LLC lifted its holdings in Wells Fargo & Company by 19.1% during the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock valued at $13,369,000 after purchasing an additional 30,510 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Wells Fargo & Company by 37.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider's stock valued at $36,055,000 after buying an additional 173,083 shares in the last quarter. Valmark Advisers Inc. increased its stake in Wells Fargo & Company by 5.5% during the 4th quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider's stock worth $583,000 after buying an additional 431 shares in the last quarter. NatWest Group plc raised its holdings in shares of Wells Fargo & Company by 57.7% during the fourth quarter. NatWest Group plc now owns 172,484 shares of the financial services provider's stock valued at $12,115,000 after acquiring an additional 63,102 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new position in shares of Wells Fargo & Company in the third quarter valued at approximately $10,451,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Wells Fargo & Company Stock Performance

NYSE WFC traded up $1.16 during trading hours on Monday, hitting $71.85. 14,851,165 shares of the stock were exchanged, compared to its average volume of 17,131,321. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The stock has a 50-day moving average of $75.84 and a 200 day moving average of $70.14. The company 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 company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

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

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is currently 29.74%.

Analyst Ratings Changes

WFC has been the subject of a number of recent research reports. Morgan Stanley increased their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Truist Financial raised their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Piper Sandler increased their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods upped their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group raised their price objective 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. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.97.

About Wells Fargo & Company

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.