35,722 Shares in Wells Fargo & Company (NYSE:WFC) Purchased by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 35,722 shares of the financial services provider’s stock, valued at approximately $2,509,000.

Other large investors have also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at approximately $29,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $30,000. Decker Retirement Planning Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $32,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at about $34,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at about $34,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 1.7 %

WFC stock opened at $81.45 on Friday. Wells Fargo & Company has a fifty-two week low of $47.45 and a fifty-two week high of $81.50. The business’s 50 day moving average price is $73.72 and its two-hundred day moving average price is $65.16. 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 company has a market capitalization of $271.18 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the business earned $0.86 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, analysts forecast that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.96%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analysts Set New Price Targets

Several brokerages have issued reports on WFC. Compass Point increased their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Truist Financial increased their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. 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 report on Monday, December 9th. Citigroup increased their price target 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. Finally, Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their target price for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $73.39.

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.