Wells Fargo & Company (NYSE:WFC) Shares Acquired by Natixis

Natixis raised its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 14.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,140,934 shares of the financial services provider's stock after purchasing an additional 145,678 shares during the period. Wells Fargo & Company accounts for 0.5% of Natixis' holdings, making the stock its 29th biggest position. Natixis' holdings in Wells Fargo & Company were worth $80,139,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of WFC. Norges Bank purchased a new stake in Wells Fargo & Company during the 4th quarter worth approximately $3,365,658,000. Capital Research Global Investors increased its position in shares of Wells Fargo & Company by 932.0% during the fourth quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider's stock worth $1,105,218,000 after purchasing an additional 14,210,193 shares in the last quarter. Artisan Partners Limited Partnership purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $117,026,000. KLP Kapitalforvaltning AS acquired a new position in Wells Fargo & Company in the 4th quarter valued at $85,031,000. Finally, Korea Investment CORP lifted its holdings in Wells Fargo & Company by 53.9% in the 4th quarter. Korea Investment CORP now owns 3,286,809 shares of the financial services provider's stock valued at $230,865,000 after purchasing an additional 1,150,443 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

WFC traded up $2.13 during trading on Wednesday, hitting $68.36. 12,242,374 shares of the stock were exchanged, compared to its average volume of 17,482,247. 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 has a 1-year low of $50.15 and a 1-year high of $81.50. The stock has a fifty day moving average price of $70.67 and a two-hundred day moving average price of $71.28. The firm has a market capitalization of $223.21 billion, a P/E ratio of 12.71, a PEG ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating 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 business had revenue of $20.15 billion for the quarter, compared to analysts' expectations of $20.82 billion. During the same period in the previous year, the company posted $1.20 EPS. The company's quarterly revenue was down 3.4% on a year-over-year basis. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.34%. Wells Fargo & Company's payout ratio is 28.73%.

Analyst Ratings Changes

WFC has been the subject of a number of recent research reports. Barclays cut their price objective on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Keefe, Bruyette & Woods raised their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research report on Thursday, January 16th. Piper Sandler dropped their price target 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. Phillip Securities upgraded shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $75.34.

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.