Brandywine Global Investment Management LLC raised its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 0.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,107,610 shares of the financial services provider's stock after acquiring an additional 18,214 shares during the quarter. Wells Fargo & Company makes up about 1.6% of Brandywine Global Investment Management LLC's portfolio, making the stock its 8th largest holding. Brandywine Global Investment Management LLC owned about 0.09% of Wells Fargo & Company worth $218,279,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the business. Rialto Wealth Management LLC acquired a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $26,000. Rakuten Securities Inc. increased its position in shares of Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock worth $30,000 after buying an additional 237 shares during the period. Modus Advisors LLC bought a new position in Wells Fargo & Company during the fourth quarter worth $30,000. McClarren Financial Advisors Inc. acquired a new position in Wells Fargo & Company in the fourth quarter valued at $30,000. Finally, Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company during the fourth quarter valued at $32,000. Institutional investors own 75.90% of the company's stock.
Analysts Set New Price Targets
Several research analysts have recently weighed in on WFC shares. Piper Sandler lifted their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a research note on Thursday, January 16th. Citigroup cut their price target on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. The Goldman Sachs Group lifted their price objective 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. Finally, Royal Bank of Canada raised shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a research note on Thursday, March 13th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $75.39.
View Our Latest Stock Report on Wells Fargo & Company
Wells Fargo & Company Stock Up 1.0 %
Wells Fargo & Company stock traded up $0.73 during trading on Wednesday, hitting $72.04. 3,841,884 shares of the company were exchanged, compared to its average volume of 17,078,089. The company has a market capitalization of $235.22 billion, a P/E ratio of 13.39, a PEG ratio of 1.18 and a beta of 1.16. The business's 50 day moving average is $75.60 and its 200 day moving average is $70.42. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week 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.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate 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 company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. The firm's revenue for the quarter was down .5% on a year-over-year basis. Analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.
Wells Fargo & Company Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.22%. Wells Fargo & Company's dividend payout ratio is currently 29.74%.
About Wells Fargo & Company
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Free Report)
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.
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