Ilmarinen Mutual Pension Insurance Co Purchases 214,500 Shares of Wells Fargo & Company (NYSE:WFC)

Ilmarinen Mutual Pension Insurance Co lifted its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 84.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 469,500 shares of the financial services provider's stock after acquiring an additional 214,500 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Wells Fargo & Company were worth $32,978,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Rialto Wealth Management LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. boosted its holdings in Wells Fargo & Company by 126.7% during 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 during the period. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth about $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $30,000. Finally, Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Trading Up 1.9 %

Shares of WFC stock traded up $1.13 on Monday, reaching $62.11. 41,270,103 shares of the stock were exchanged, compared to its average volume of 17,352,552. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The stock has a market cap of $202.81 billion, a PE ratio of 11.55, a P/E/G ratio of 1.18 and a beta of 1.02. The stock has a 50 day moving average price of $74.93 and a 200 day moving average price of $70.67.

Remove Ads

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion during the quarter, compared to analysts' expectations of $20.58 billion. During the same period in the previous year, the business posted $0.86 EPS. The company's quarterly revenue was down .5% compared to the same quarter last year. Equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal 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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is presently 29.74%.

Analyst Ratings Changes

WFC has been the topic of several research analyst reports. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target on the stock in a research report on Thursday, March 13th. Bank of America decreased their target price on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods increased their price objective on shares of 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. Compass Point lifted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Finally, Citigroup lowered their target price on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $75.55.

Wells Fargo & Company 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.