IPG Investment Advisors LLC boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 103.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,968 shares of the financial services provider's stock after acquiring an additional 13,209 shares during the period. IPG Investment Advisors LLC's holdings in Wells Fargo & Company were worth $1,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in WFC. Norges Bank bought a new position in shares of Wells Fargo & Company in the 4th quarter worth $2,623,044,000. Northern Trust Corp raised its holdings in Wells Fargo & Company by 0.3% in the third quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider's stock worth $1,560,755,000 after purchasing an additional 129,300 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Wells Fargo & Company by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,237,905 shares of the financial services provider's stock valued at $1,143,770,000 after buying an additional 526,178 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Wells Fargo & Company by 3.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 18,941,772 shares of the financial services provider's stock valued at $932,352,000 after buying an additional 596,521 shares in the last quarter. Finally, Pzena Investment Management LLC grew its position in shares of Wells Fargo & Company by 1.9% in the 3rd quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider's stock worth $746,484,000 after buying an additional 335,560 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.
Analyst Ratings Changes
A number of research firms recently commented on WFC. JPMorgan Chase & Co. increased their target price on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a "neutral" rating in a research report on Wednesday, May 1st. Citigroup reiterated a "neutral" rating and set a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Oppenheimer restated a "market perform" rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Finally, Evercore ISI raised their price target on Wells Fargo & Company from $58.00 to $67.00 and gave the stock an "outperform" rating in a report on Thursday, March 28th. Fourteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $58.99.
Check Out Our Latest Stock Report on WFC
Wells Fargo & Company Stock Performance
Shares of NYSE:WFC traded up $0.53 during trading on Monday, hitting $60.21. 9,913,000 shares of the stock traded hands, compared to its average volume of 18,429,924. The company has a fifty day moving average price of $59.08 and a two-hundred day moving average price of $52.70. The company has a market cap of $209.91 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 1.59 and a beta of 1.18. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion for the quarter, compared to analysts' expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $1.23 EPS. As a group, equities analysts predict that Wells Fargo & Company will post 5.08 EPS for the current year.
Wells Fargo & Company Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Thursday, May 9th. Wells Fargo & Company's dividend payout ratio is presently 29.23%.
Wells Fargo & Company Company Profile
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Free Report)
Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
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