Wells Fargo & Company (NYSE:WFC) Shares Sold by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC lowered its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 11.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,729,358 shares of the financial services provider's stock after selling 1,123,890 shares during the period. Wells Fargo & Company makes up 2.0% of Grantham Mayo Van Otterloo & Co. LLC's portfolio, making the stock its 17th biggest position. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.26% of Wells Fargo & Company worth $613,150,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC lifted its position in Wells Fargo & Company by 19.1% during the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock worth $13,369,000 after acquiring an additional 30,510 shares during the last quarter. Valmark Advisers Inc. grew its holdings in shares of Wells Fargo & Company by 5.5% during the 4th quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider's stock valued at $583,000 after purchasing an additional 431 shares during the last quarter. NatWest Group plc lifted its stake in shares of Wells Fargo & Company by 57.7% in the 4th quarter. NatWest Group plc now owns 172,484 shares of the financial services provider's stock valued at $12,115,000 after acquiring an additional 63,102 shares during the last quarter. Weiss Asset Management LP bought a new position in Wells Fargo & Company in the third quarter valued at about $10,451,000. Finally, Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $1,656,000. 75.90% of the stock is owned by institutional investors.

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Analyst Ratings Changes

Several equities analysts have issued reports on WFC shares. Truist Financial decreased their price target on shares of Wells Fargo & Company from $86.00 to $84.00 and set a "buy" rating for the company in a research report on Friday. Bank of America lowered their price objective on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Royal Bank of Canada upgraded Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a report on Thursday, March 13th. Citigroup reduced their price objective 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. Finally, JPMorgan Chase & Co. cut 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 report on Thursday. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $75.55.

Wells Fargo & Company Price Performance

Shares of NYSE WFC traded up $1.13 during midday trading on Monday, reaching $62.11. 41,270,103 shares of the stock traded hands, compared to its average volume of 17,352,505. 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 $74.93 and its 200 day moving average is $70.67. The stock has a market capitalization of $202.81 billion, a PE ratio of 11.55, a P/E/G ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 EPS. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is presently 29.74%.

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.