Marshall Wace LLP Purchases 917,103 Shares of Wells Fargo & Company (NYSE:WFC)

Marshall Wace LLP increased its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 219.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,335,000 shares of the financial services provider's stock after purchasing an additional 917,103 shares during the period. Marshall Wace LLP's holdings in Wells Fargo & Company were worth $93,770,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Rialto Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $26,000. Investment Counsel Co. of Nevada bought a new stake in Wells Fargo & Company in the 4th quarter valued at $28,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. grew 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 acquiring an additional 237 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of recent research reports. Truist Financial lowered their target price on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday. 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 report on Monday, March 24th. Raymond James dropped their target price on shares of Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating on the stock in a report on Monday. Barclays cut their price objective on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a research report on Monday. Finally, Bank of America reduced their price objective on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $75.34.

Wells Fargo & Company Trading Up 1.0 %

Shares of Wells Fargo & Company stock traded up $0.65 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. The stock has a 50 day moving average of $71.23 and a 200 day moving average of $71.05. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The firm has a market capitalization of $211.02 billion, a P/E ratio of 12.01, a PEG ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.16. The company had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company's revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 earnings per share. Sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.48%. Wells Fargo & Company's payout ratio is 28.73%.

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.