World Investment Advisors Boosts Stock Holdings in Wells Fargo & Company (NYSE:WFC)

World Investment Advisors increased its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 80,928 shares of the financial services provider's stock after acquiring an additional 5,496 shares during the quarter. World Investment Advisors' holdings in Wells Fargo & Company were worth $5,684,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in Wells Fargo & Company during the fourth quarter worth about $3,365,658,000. Nordea Investment Management AB grew its position in shares of Wells Fargo & Company by 10.1% during the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider's stock valued at $441,983,000 after acquiring an additional 575,892 shares during the period. Two Sigma Advisers LP increased its stake in shares of Wells Fargo & Company by 730.4% during 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 purchasing an additional 5,237,500 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Wells Fargo & Company by 6.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,464,967 shares of the financial services provider's stock worth $389,707,000 after purchasing an additional 352,821 shares during the period. Finally, Korea Investment CORP raised its holdings in shares of Wells Fargo & Company by 53.9% in the 4th quarter. Korea Investment CORP now owns 3,286,809 shares of the financial services provider's stock worth $230,865,000 after purchasing an additional 1,150,443 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of analysts have issued reports on WFC shares. UBS Group raised their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. JPMorgan Chase & Co. decreased their price objective on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a report on Thursday. Keefe, Bruyette & Woods boosted their price objective on 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. 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. Finally, Truist Financial lowered their price target on shares of Wells Fargo & Company from $86.00 to $84.00 and set a "buy" rating on the stock in a research report on Friday. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $75.50.

Wells Fargo & Company Price Performance

WFC traded down $4.76 during trading on Friday, reaching $60.91. The stock had a trading volume of 31,028,896 shares, compared to its average volume of 17,232,166. The business has a 50-day moving average of $74.93 and a 200-day moving average of $70.44. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. 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 stock has a market cap of $198.89 billion, a PE ratio of 11.32, a PEG ratio of 1.18 and a beta of 1.16.

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 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company's revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company earned $0.86 EPS. As a group, equities research analysts anticipate 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 2.63%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 29.74%.

About Wells Fargo & Company

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.