Mitsubishi UFJ Asset Management Co. Ltd. Increases Position in Wells Fargo & Company (NYSE:WFC)

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 6.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,464,967 shares of the financial services provider's stock after purchasing an additional 352,821 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Wells Fargo & Company worth $389,707,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Empowered Funds LLC boosted its position in Wells Fargo & Company by 19.1% during the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock valued at $13,369,000 after acquiring an additional 30,510 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in Wells Fargo & Company by 37.2% in the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider's stock worth $36,055,000 after purchasing an additional 173,083 shares during the period. Atlantic Union Bankshares Corp raised its holdings in Wells Fargo & Company by 17.4% in the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider's stock worth $10,031,000 after purchasing an additional 26,320 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Wells Fargo & Company by 14.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider's stock valued at $58,055,000 after buying an additional 131,322 shares during the period. Finally, Valmark Advisers Inc. boosted 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 buying an additional 431 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

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Wells Fargo & Company Stock Performance

Shares of WFC traded down $1.57 during trading hours on Friday, hitting $70.71. The stock had a trading volume of 13,550,316 shares, compared to its average volume of 17,140,434. The firm has a market capitalization of $230.87 billion, a PE ratio of 13.14, a PEG ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The stock has a fifty day moving average price of $75.84 and a 200 day moving average price of $70.03.

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

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.26%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is presently 29.74%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WFC. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. The Goldman Sachs Group lifted their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a report on Friday, December 6th. Citigroup reduced their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. UBS Group boosted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Finally, Compass Point raised their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $74.97.

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.