Vinva Investment Management Ltd Has $11.80 Million Stake in Wells Fargo & Company (NYSE:WFC)

Vinva Investment Management Ltd boosted its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 24.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 167,628 shares of the financial services provider's stock after purchasing an additional 32,506 shares during the quarter. Vinva Investment Management Ltd's holdings in Wells Fargo & Company were worth $11,803,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WFC. Two Sigma Advisers LP increased its holdings 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 valued at $336,375,000 after purchasing an additional 5,237,500 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings 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. Artemis Investment Management LLP raised its holdings in Wells Fargo & Company by 410.8% during the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider's stock worth $96,567,000 after acquiring an additional 1,105,679 shares in the last quarter. Public Sector Pension Investment Board raised its holdings 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 acquiring an additional 889,953 shares in the last quarter. Finally, KBC Group NV raised its holdings in Wells Fargo & Company by 63.1% during the fourth quarter. KBC Group NV now owns 1,962,302 shares of the financial services provider's stock worth $137,832,000 after acquiring an additional 758,893 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

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Analyst Ratings Changes

WFC has been the topic of several research analyst reports. Royal Bank of Canada upgraded 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. Barclays upped their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Piper Sandler upped their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Compass Point increased their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods increased their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research note on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of "Moderate Buy" and an average target price of $74.39.

Wells Fargo & Company Price Performance

Shares of WFC stock traded down $0.01 during trading hours on Friday, reaching $72.51. The company's stock had a trading volume of 32,620,920 shares, compared to its average volume of 16,441,602. The firm's 50 day simple moving average is $75.95 and its 200-day simple moving average is $69.42. The company has a market capitalization of $238.43 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. 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 (NYSE:WFC - Get Free Report) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 12.38% and a net margin of 15.73%. The company's revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 EPS. Sell-side analysts forecast 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. Shareholders of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is presently 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.