California Public Employees Retirement System Has $490.70 Million Holdings in Wells Fargo & Company (NYSE:WFC)

California Public Employees Retirement System decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 7.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,986,075 shares of the financial services provider's stock after selling 594,202 shares during the quarter. California Public Employees Retirement System owned approximately 0.21% of Wells Fargo & Company worth $490,702,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $26,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $30,000. McClarren Financial Advisors Inc. bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $30,000. Rakuten Securities Inc. increased its stake in shares of Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock worth $30,000 after purchasing an additional 237 shares during the last quarter. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $32,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Shares of WFC traded up $1.16 during mid-day trading on Monday, reaching $71.85. The company had a trading volume of 14,851,165 shares, compared to its average volume of 17,131,321. The company has a market capitalization of $234.59 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 1.18 and a beta of 1.16. 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 company's 50 day simple moving average is $75.84 and its 200 day simple moving average is $70.14. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50.

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Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share 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 firm 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 firm posted $0.86 earnings per share. The company's revenue was down .5% on a year-over-year basis. Analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced 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 was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.23%. Wells Fargo & Company's dividend payout ratio is presently 29.74%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barclays lifted their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Truist Financial upped their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Royal Bank of Canada upgraded Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective on the stock in a research report on Thursday, March 13th. Compass Point upped their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Finally, Citigroup dropped their price objective 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. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.