China Universal Asset Management Co. Ltd. Purchases 4,324 Shares of Wells Fargo & Company (NYSE:WFC)

China Universal Asset Management Co. Ltd. lifted its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 34.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 16,852 shares of the financial services provider's stock after acquiring an additional 4,324 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Wells Fargo & Company were worth $1,184,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of WFC. Czech National Bank increased its position in shares of Wells Fargo & Company by 4.4% during the 3rd quarter. Czech National Bank now owns 693,384 shares of the financial services provider's stock valued at $39,169,000 after purchasing an additional 28,976 shares during the period. Allied Investment Advisors LLC raised its holdings in Wells Fargo & Company by 0.8% during the 3rd quarter. Allied Investment Advisors LLC now owns 205,941 shares of the financial services provider's stock worth $11,634,000 after buying an additional 1,694 shares during the period. Eldred Rock Partners LLC boosted its holdings in shares of Wells Fargo & Company by 4.0% in the third quarter. Eldred Rock Partners LLC now owns 151,441 shares of the financial services provider's stock worth $8,555,000 after buying an additional 5,806 shares during the period. Eclectic Associates Inc. ADV raised its holdings in shares of Wells Fargo & Company by 1.2% during the third quarter. Eclectic Associates Inc. ADV now owns 15,452 shares of the financial services provider's stock valued at $873,000 after acquiring an additional 178 shares during the period. Finally, Great Waters Wealth Management lifted its position in shares of Wells Fargo & Company by 2.8% in the 3rd quarter. Great Waters Wealth Management now owns 6,839 shares of the financial services provider's stock valued at $386,000 after acquiring an additional 187 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WFC. Citigroup lifted their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a "neutral" rating in a report on Tuesday, November 19th. Piper Sandler increased their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Barclays raised their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group lifted their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $73.39.

Wells Fargo & Company Price Performance

Shares of WFC stock traded up $0.52 during trading on Wednesday, hitting $79.99. The company had a trading volume of 9,113,729 shares, compared to its average volume of 14,630,104. 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 firm has a market capitalization of $266.31 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18. Wells Fargo & Company has a one year low of $47.45 and a one year high of $80.35. The stock's 50-day moving average price is $73.66 and its 200 day moving average price is $65.06.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. Wells Fargo & Company's revenue for the quarter was down .5% on a year-over-year basis. Equities analysts expect that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company's payout ratio is currently 29.74%.

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.