Mitsubishi UFJ Trust & Banking Corp Trims Holdings in Wells Fargo & Company (NYSE:WFC)

Mitsubishi UFJ Trust & Banking Corp reduced its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 2.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,756,239 shares of the financial services provider's stock after selling 38,946 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.05% of Wells Fargo & Company worth $123,358,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Two Sigma Advisers LP boosted its stake in shares of 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 worth $336,375,000 after buying an additional 5,237,500 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Wells Fargo & Company by 158.1% during the third 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 acquiring an additional 1,659,716 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Wells Fargo & Company during the fourth quarter worth $85,031,000. Artemis Investment Management LLP boosted its position in Wells Fargo & Company by 410.8% in the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider's stock worth $96,567,000 after purchasing an additional 1,105,679 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its stake 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 valued at $111,914,000 after purchasing an additional 889,953 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

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Wells Fargo & Company Price Performance

Shares of WFC stock traded down $1.82 during trading on Friday, hitting $70.46. The company had a trading volume of 8,974,059 shares, compared to its average volume of 15,984,804. The stock's 50-day moving average is $75.97 and its two-hundred day moving average is $69.80. The stock has a market capitalization of $230.05 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results 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 business's revenue for the quarter was down .5% compared to the same quarter last year. As a group, analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders 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 2.27%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on WFC shares. Citigroup cut their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a report on Monday. UBS Group upped their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Compass Point upped their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Piper Sandler lifted their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. Finally, Truist Financial upped their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.