Artemis Investment Management LLP Boosts Stock Position in Wells Fargo & Company (NYSE:WFC)

Artemis Investment Management LLP lifted its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 410.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,374,812 shares of the financial services provider's stock after buying an additional 1,105,679 shares during the period. Wells Fargo & Company comprises about 1.4% of Artemis Investment Management LLP's holdings, making the stock its 16th largest position. Artemis Investment Management LLP's holdings in Wells Fargo & Company were worth $96,567,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of WFC. Cardinal Capital Management Inc. increased its stake in Wells Fargo & Company by 2.0% in the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider's stock valued at $32,505,000 after buying an additional 11,037 shares during the last quarter. Rockefeller Capital Management L.P. grew 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 purchasing an additional 173,083 shares during the period. Atlantic Union Bankshares Corp increased its position in shares of Wells Fargo & Company by 17.4% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider's stock valued at $10,031,000 after purchasing an additional 26,320 shares during the last quarter. Chartwell Investment Partners LLC increased its position in shares of Wells Fargo & Company by 16.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider's stock valued at $7,504,000 after purchasing an additional 18,717 shares during the last quarter. Finally, Argus Investors Counsel Inc. boosted its holdings in shares of Wells Fargo & Company by 34.6% in the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider's stock worth $1,780,000 after buying an additional 8,107 shares during the last quarter. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Shares of WFC stock traded up $1.27 on Monday, reaching $77.22. The company's stock had a trading volume of 20,609,919 shares, compared to its average volume of 12,688,081. Wells Fargo & Company has a 12-month low of $46.12 and a 12-month high of $78.13. The stock's 50 day simple moving average is $72.74 and its 200-day simple moving average is $63.48. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $257.11 billion, a P/E ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The firm had revenue of $20.38 billion for the quarter, compared to analysts' expectations of $20.58 billion. During the same quarter last year, the firm posted $0.86 EPS. The company's revenue was down .5% compared to the same quarter last year. As a group, equities analysts predict that Wells Fargo & Company will post 5.45 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were paid a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. Wells Fargo & Company's dividend payout ratio is presently 33.26%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Barclays raised their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday. Compass Point lifted their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. 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. UBS Group upped their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Finally, Citigroup lifted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $73.39.

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.