Mirae Asset Global Investments Co. Ltd. Raises Position in Wells Fargo & Company (NYSE:WFC)

Mirae Asset Global Investments Co. Ltd. increased its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 17.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 349,566 shares of the financial services provider's stock after purchasing an additional 52,858 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Wells Fargo & Company were worth $23,326,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in WFC. Czech National Bank lifted its holdings 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 worth $39,169,000 after acquiring an additional 28,976 shares during the period. Diversified Trust Co increased its position in Wells Fargo & Company by 10.4% during the third quarter. Diversified Trust Co now owns 24,335 shares of the financial services provider's stock worth $1,375,000 after purchasing an additional 2,294 shares during the last quarter. Miracle Mile Advisors LLC raised its stake in Wells Fargo & Company by 4.0% during the third quarter. Miracle Mile Advisors LLC now owns 21,185 shares of the financial services provider's stock worth $1,197,000 after purchasing an additional 824 shares during the period. Mather Group LLC. boosted its holdings in shares of Wells Fargo & Company by 7.4% in the 3rd quarter. Mather Group LLC. now owns 20,134 shares of the financial services provider's stock valued at $1,137,000 after purchasing an additional 1,391 shares during the last quarter. Finally, Axiom Advisory LLC grew its stake in shares of Wells Fargo & Company by 1.6% during the 3rd quarter. Axiom Advisory LLC now owns 17,536 shares of the financial services provider's stock valued at $992,000 after buying an additional 274 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

WFC stock opened at $80.07 on Thursday. The stock's 50 day moving average is $73.66 and its two-hundred day moving average is $65.06. Wells Fargo & Company has a 52-week low of $47.45 and a 52-week high of $80.35. The company has a market capitalization of $266.58 billion, a PE ratio of 14.88, a P/E/G ratio of 1.19 and a beta of 1.18. 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 results 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. 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 during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The business's revenue was down .5% compared to the same quarter last year. Analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently weighed in on WFC. The Goldman Sachs Group increased their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. UBS Group lifted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Citigroup increased their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 19th. Phillip Securities raised shares of Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and lifted their price target for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Finally, Truist Financial increased their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $73.39.

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.

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