Royal London Asset Management Ltd. Purchases 5,938 Shares of Wells Fargo & Company (NYSE:WFC)

Royal London Asset Management Ltd. raised its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 0.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,539,724 shares of the financial services provider's stock after purchasing an additional 5,938 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Wells Fargo & Company were worth $108,150,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in WFC. Nordea Investment Management AB lifted its position in shares of Wells Fargo & Company by 10.1% in the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider's stock worth $441,983,000 after acquiring an additional 575,892 shares during the period. Two Sigma Advisers LP lifted its position 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 lifted its position in Wells Fargo & Company by 158.1% in 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 purchasing an additional 1,659,716 shares during the period. Public Sector Pension Investment Board boosted its stake in Wells Fargo & Company by 81.6% during 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 buying an additional 889,953 shares in the last quarter. Finally, KBC Group NV increased its holdings in Wells Fargo & Company by 63.1% in the 4th quarter. KBC Group NV now owns 1,962,302 shares of the financial services provider's stock valued at $137,832,000 after buying an additional 758,893 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

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Wells Fargo & Company Trading Up 2.4 %

NYSE:WFC traded up $1.76 during trading hours on Monday, hitting $74.28. The stock had a trading volume of 10,685,753 shares, compared to its average volume of 16,418,545. The business's 50 day moving average is $75.95 and its 200-day moving average is $69.50. 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 company has a market cap of $244.25 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50.

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

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's dividend payout ratio (DPR) is currently 29.74%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on WFC shares. Compass Point raised their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Morgan Stanley raised their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. 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 report on Thursday, March 13th. 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 report on Friday, December 6th. Finally, UBS Group raised their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company has an average rating of "Moderate Buy" and a consensus target price of $74.18.

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.