AIA Group Ltd Has $4.44 Million Stake in Wells Fargo & Company (NYSE:WFC)

AIA Group Ltd trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 63,243 shares of the financial services provider's stock after selling 5,276 shares during the period. AIA Group Ltd's holdings in Wells Fargo & Company were worth $4,442,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of WFC. Norges Bank acquired a new position in shares of Wells Fargo & Company during the 4th quarter valued at $3,365,658,000. Two Sigma Advisers LP lifted its holdings in Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider's stock valued at $336,375,000 after acquiring an additional 5,237,500 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $117,026,000. KLP Kapitalforvaltning AS bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $85,031,000. Finally, Korea Investment CORP lifted its stake in Wells Fargo & Company by 53.9% during the fourth quarter. Korea Investment CORP now owns 3,286,809 shares of the financial services provider's stock valued at $230,865,000 after purchasing an additional 1,150,443 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock traded up $1.02 during trading hours on Wednesday, hitting $72.33. 8,688,552 shares of the stock were exchanged, compared to its average volume of 17,096,740. The stock has a market capitalization of $236.17 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The business's 50-day moving average is $75.60 and its two-hundred day moving average is $70.42. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

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Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS 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 firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. The company's revenue was down .5% on a year-over-year basis. Equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.21%. Wells Fargo & Company's payout ratio is 29.74%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Royal Bank of Canada upgraded Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target for the company in a research report on Thursday, March 13th. Citigroup cut their target price on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Barclays increased their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Morgan Stanley upped their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a report on Friday, December 6th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $75.39.

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.