Canada Pension Plan Investment Board Decreases Position in Wells Fargo & Company (NYSE:WFC)

Canada Pension Plan Investment Board lowered its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,941,737 shares of the financial services provider's stock after selling 296,919 shares during the quarter. Canada Pension Plan Investment Board owned about 0.12% of Wells Fargo & Company worth $276,868,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Rialto Wealth Management LLC purchased a new position in Wells Fargo & Company during the 4th quarter worth $26,000. Investment Counsel Co. of Nevada purchased a new stake in Wells Fargo & Company in the fourth quarter valued at about $28,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $30,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $30,000. Finally, Rakuten Securities Inc. grew its stake in Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 237 shares during the last quarter. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Up 1.0 %

Shares of Wells Fargo & Company stock traded up $0.65 during trading hours on Friday, hitting $64.63. The company had a trading volume of 18,930,900 shares, compared to its average volume of 17,584,163. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company's 50-day moving average is $71.23 and its two-hundred day moving average is $71.05. The company has a market cap of $211.02 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50.

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 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 firm's revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 earnings per share. Analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

WFC has been the topic of several recent research reports. Truist Financial dropped their price objective on shares of Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a report on Monday. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday. Morgan Stanley increased their target price on Wells Fargo & Company from $79.00 to $80.00 and gave the company an "overweight" rating in a report on Monday, April 7th. JPMorgan Chase & Co. decreased their price target on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research note 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.34.

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.