State of New Jersey Common Pension Fund D Has $87.97 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

State of New Jersey Common Pension Fund D cut its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 3.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,252,473 shares of the financial services provider's stock after selling 38,935 shares during the period. State of New Jersey Common Pension Fund D's holdings in Wells Fargo & Company were worth $87,974,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Spinnaker Trust boosted its position in Wells Fargo & Company by 1.8% in the 4th quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider's stock valued at $520,000 after buying an additional 130 shares during the last quarter. Jacobsen Capital Management boosted its position in Wells Fargo & Company by 2.8% in the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider's stock valued at $381,000 after buying an additional 148 shares during the last quarter. New Republic Capital LLC boosted its position in Wells Fargo & Company by 2.9% in the 4th quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider's stock valued at $369,000 after buying an additional 149 shares during the last quarter. Quad Cities Investment Group LLC boosted its position in Wells Fargo & Company by 0.3% in the 4th quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider's stock valued at $3,693,000 after buying an additional 158 shares during the last quarter. Finally, Investors Research Corp boosted its position in Wells Fargo & Company by 1.2% in the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider's stock valued at $760,000 after buying an additional 160 shares during the last quarter. Institutional investors own 75.90% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on WFC. Piper Sandler increased their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Citigroup increased their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a "neutral" rating in a research report on Tuesday, November 19th. The Goldman Sachs Group increased their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Barclays increased their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Finally, UBS Group increased their price target 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. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $73.39.

Wells Fargo & Company Stock Down 2.1 %

Shares of NYSE WFC traded down $1.66 during trading hours on Thursday, hitting $78.69. The company had a trading volume of 14,800,325 shares, compared to its average volume of 15,174,527. The stock has a market capitalization of $262.00 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 1.21 and a beta of 1.18. 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 1-year low of $50.15 and a 1-year high of $81.50. The firm's 50 day moving average is $74.90 and its 200-day moving average is $66.64.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm's revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. On average, analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company's payout ratio is presently 29.74%.

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.