National Pension Service Trims Stock Holdings in Wells Fargo & Company (NYSE:WFC)

National Pension Service decreased its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 5.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,395,484 shares of the financial services provider's stock after selling 393,887 shares during the period. National Pension Service owned 0.19% of Wells Fargo & Company worth $449,219,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Diamond Hill Capital Management Inc. raised its stake in shares of Wells Fargo & Company by 2.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider's stock worth $375,183,000 after acquiring an additional 162,066 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Wells Fargo & Company by 10.1% in the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider's stock worth $441,983,000 after buying an additional 575,892 shares during the period. Two Sigma Advisers LP grew its stake in Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider's stock worth $336,375,000 after purchasing an additional 5,237,500 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in Wells Fargo & Company by 158.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider's stock worth $153,069,000 after acquiring an additional 1,659,716 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its stake in shares of Wells Fargo & Company by 81.6% in the third quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider's stock worth $111,914,000 after acquiring an additional 889,953 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Truist Financial raised their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Barclays lifted their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Piper Sandler boosted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Finally, Evercore ISI raised their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Wells Fargo & Company currently has an average rating of "Hold" and a consensus target price of $73.39.

Wells Fargo & Company Trading Down 1.6 %

Shares of NYSE WFC opened at $75.95 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock's 50 day simple moving average is $75.40 and its 200 day simple moving average is $67.44. The company has a market cap of $252.87 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping 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 firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the prior year, the firm posted $0.86 earnings per share. The firm's revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.11%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company's dividend payout ratio is 29.74%.

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.

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