Wells Fargo & Company (NYSE:WFC) Shares Purchased by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 17.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,832 shares of the financial services provider’s stock after purchasing an additional 2,311 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Wells Fargo & Company were worth $779,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Daiwa Securities Group Inc. increased its position in shares of Wells Fargo & Company by 6.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 332,895 shares of the financial services provider’s stock worth $16,385,000 after acquiring an additional 19,692 shares in the last quarter. KLCM Advisors Inc. increased its position in shares of Wells Fargo & Company by 1.7% in the fourth quarter. KLCM Advisors Inc. now owns 436,203 shares of the financial services provider’s stock worth $21,470,000 after acquiring an additional 7,288 shares in the last quarter. Tyche Wealth Partners LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $505,000. Allen Capital Group LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $261,000. Finally, Wealth Alliance increased its position in shares of Wells Fargo & Company by 8.3% in the fourth quarter. Wealth Alliance now owns 15,602 shares of the financial services provider’s stock worth $768,000 after acquiring an additional 1,197 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on WFC shares. Barclays raised their price target on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $62.00 price target (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Piper Sandler dropped their target price on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, January 16th. Raymond James boosted their target price on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 16th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $55.00 target price on shares of Wells Fargo & Company in a research report on Monday, January 8th. Thirteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & Company Trading Up 1.4 %

Wells Fargo & Company stock opened at $57.18 on Thursday. The firm has a 50-day moving average price of $55.42 and a two-hundred day moving average price of $48.61. The firm has a market capitalization of $202.44 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 1.10 and a beta of 1.19. Wells Fargo & Company has a 52-week low of $36.40 and a 52-week high of $58.44. 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) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The company had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.23 EPS. Sell-side analysts expect that Wells Fargo & Company will post 5.04 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

About Wells Fargo & Company

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.