CANADA LIFE ASSURANCE Co Has $108.90 Million Position in Wells Fargo & Company (NYSE:WFC)

CANADA LIFE ASSURANCE Co trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,550,050 shares of the financial services provider's stock after selling 12,208 shares during the period. CANADA LIFE ASSURANCE Co's holdings in Wells Fargo & Company were worth $108,895,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $3,365,658,000. Nordea Investment Management AB lifted its position in Wells Fargo & Company by 10.1% in the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider's stock worth $441,983,000 after buying an additional 575,892 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Wells Fargo & Company by 6.9% during 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 during the period. FIL Ltd grew its holdings in shares of Wells Fargo & Company by 2.6% during the 4th quarter. FIL Ltd now owns 4,138,814 shares of the financial services provider's stock valued at $290,710,000 after acquiring an additional 104,136 shares in the last quarter. Finally, Korea Investment CORP increased its stake in shares of Wells Fargo & Company by 53.9% in the fourth quarter. Korea Investment CORP now owns 3,286,809 shares of the financial services provider's stock worth $230,865,000 after acquiring an additional 1,150,443 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WFC has been the subject of several research reports. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Monday. JPMorgan Chase & Co. reduced 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 research note on Thursday, April 3rd. Citigroup dropped their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Royal Bank of Canada raised shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective for the company in a research note on Thursday, March 13th. Finally, Keefe, Bruyette & Woods increased their price objective 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. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of "Moderate Buy" and an average price target of $75.34.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded up $0.65 during trading hours on Friday, hitting $64.63. The stock had a trading volume of 18,930,900 shares, compared to its average volume of 17,584,163. 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 market cap of $211.02 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The company has a 50-day moving average of $71.23 and a two-hundred day moving average of $71.05. 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 issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.16. The company had revenue of $20.15 billion during the quarter, compared to analysts' expectations of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business's revenue was down 3.4% on a year-over-year basis. During the same period last year, the business earned $1.20 earnings per share. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's payout ratio is currently 28.73%.

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.