Virtu Financial LLC Makes New $1.89 Million Investment in Wells Fargo & Company (NYSE:WFC)

Virtu Financial LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 26,930 shares of the financial services provider's stock, valued at approximately $1,892,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Two Sigma Advisers LP lifted its holdings in Wells Fargo & Company by 730.4% during 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 in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Wells Fargo & Company by 158.1% during 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 purchasing an additional 1,659,716 shares during the last quarter. Artemis Investment Management LLP lifted its stake in Wells Fargo & Company by 410.8% in 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. Public Sector Pension Investment Board boosted its holdings 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 worth $111,914,000 after buying an additional 889,953 shares during the last quarter. Finally, KBC Group NV increased its stake in Wells Fargo & Company by 63.1% during the 4th quarter. KBC Group NV now owns 1,962,302 shares of the financial services provider's stock worth $137,832,000 after buying an additional 758,893 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

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Wells Fargo & Company Stock Performance

WFC stock traded down $0.01 on Tuesday, hitting $74.27. The company's stock had a trading volume of 6,278,802 shares, compared to its average volume of 16,416,712. The firm has a 50 day moving average of $76.03 and a two-hundred day moving average of $69.62. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. 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 has a market cap of $244.21 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly 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 net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion for the quarter, compared to analysts' expectations of $20.58 billion. During the same period in the prior year, the company posted $0.86 EPS. The business's revenue for the quarter was down .5% on a year-over-year basis. Equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 29.74%.

Analyst Ratings Changes

Several brokerages recently issued reports on WFC. Compass Point raised 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. Morgan Stanley lifted 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 note on Thursday, January 16th. The Goldman Sachs Group increased their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, December 6th. 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 research report on Thursday, January 16th. Finally, Truist Financial increased their price objective 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. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $74.18.

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.