Wells Fargo & Company (NYSE:WFC) Stock Holdings Boosted by MML Investors Services LLC

MML Investors Services LLC boosted its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 11.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 448,224 shares of the financial services provider's stock after acquiring an additional 44,909 shares during the period. MML Investors Services LLC's holdings in Wells Fargo & Company were worth $31,483,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of 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 buying an additional 30,510 shares during the period. Valmark Advisers Inc. raised its stake in Wells Fargo & Company by 5.5% during the fourth quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider's stock worth $583,000 after purchasing an additional 431 shares during the period. NatWest Group plc raised its position 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 worth $12,115,000 after buying an additional 63,102 shares during the period. Financiere des Professionnels Fonds d investissement inc. acquired a new position in Wells Fargo & Company in the fourth quarter valued at $1,656,000. Finally, Modera Wealth Management LLC grew its position in Wells Fargo & Company by 14.1% during the fourth quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider's stock valued at $1,444,000 after acquiring an additional 2,548 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Royal Bank of Canada raised Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective on the stock in a research note on Thursday, March 13th. Piper Sandler decreased their price objective on shares of Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Truist Financial cut their target price on shares of Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Raymond James decreased their price target on shares of Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating for the company in a research report on Monday, April 14th. Finally, Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and an average price target of $75.34.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC traded up $2.23 during trading on Tuesday, reaching $66.24. The stock had a trading volume of 17,508,703 shares, compared to its average volume of 17,501,380. 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 stock has a market cap of $216.28 billion, a PE ratio of 12.31, 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. The firm's 50 day moving average price is $70.67 and its two-hundred day moving average price is $71.28.

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

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.42%. Wells Fargo & Company's payout ratio is currently 28.73%.

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.