iA Global Asset Management Inc. Has $29.89 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

iA Global Asset Management Inc. grew its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 860.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 425,467 shares of the financial services provider's stock after purchasing an additional 381,149 shares during the period. iA Global Asset Management Inc.'s holdings in Wells Fargo & Company were worth $29,885,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in WFC. Rialto Wealth Management LLC bought a new position in Wells Fargo & Company in the 4th quarter valued at about $26,000. Rakuten Securities Inc. boosted its holdings in shares of Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 237 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company during the fourth quarter worth approximately $30,000. Finally, Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WFC shares. Barclays boosted their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Piper Sandler raised their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. The Goldman Sachs Group raised their target price on shares of 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 upped their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a report on Monday, December 9th. 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $74.18.

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Wells Fargo & Company Stock Up 2.4 %

Shares of NYSE WFC traded up $1.76 during mid-day trading on Monday, reaching $74.28. The company had a trading volume of 10,685,753 shares, compared to its average volume of 16,418,551. 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 $244.25 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.18 and a beta of 1.16. The stock has a fifty day moving average of $76.03 and a two-hundred day moving average of $69.62. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50.

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 (EPS) for the quarter, beating 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 company had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter last year, the business posted $0.86 EPS. The company's revenue for the quarter was down .5% on a year-over-year basis. As a group, equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

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 $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.15%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's payout ratio is currently 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.