Wells Fargo & Company (NYSE:WFC) Shares Bought by TD Asset Management Inc.

TD Asset Management Inc. grew its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 16.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,630,649 shares of the financial services provider's stock after buying an additional 232,203 shares during the quarter. TD Asset Management Inc.'s holdings in Wells Fargo & Company were worth $114,537,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of WFC. Two Sigma Advisers LP increased 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 increased its stake in Wells Fargo & Company by 158.1% in the 3rd 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 buying an additional 1,659,716 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Wells Fargo & Company during the 4th quarter valued at about $85,031,000. Artemis Investment Management LLP lifted its holdings in Wells Fargo & Company by 410.8% during the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider's stock valued at $96,567,000 after buying an additional 1,105,679 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its position in Wells Fargo & Company by 81.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider's stock valued at $111,914,000 after buying an additional 889,953 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

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Wells Fargo & Company Stock Down 2.2 %

NYSE:WFC traded down $1.57 during mid-day trading on Friday, hitting $70.71. 13,550,316 shares of the company's stock traded hands, compared to its average volume of 17,140,434. 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 capitalization of $230.87 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a fifty day moving average of $75.84 and a 200 day moving average of $70.03. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company's revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 earnings per share. On average, analysts forecast 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 $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 2.26%. Wells Fargo & Company's dividend payout ratio is currently 29.74%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Compass Point lifted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Citigroup dropped their price target on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. UBS Group lifted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a report on Monday, December 9th. Finally, Piper Sandler upped their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus 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.