D L Carlson Investment Group Inc. purchased a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 49,864 shares of the financial services provider's stock, valued at approximately $2,595,000.
Several other large investors also recently made changes to their positions in WFC. Norges Bank acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $2,623,044,000. LSV Asset Management boosted its stake in shares of Wells Fargo & Company by 40.4% in the 4th quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider's stock valued at $458,162,000 after purchasing an additional 2,677,050 shares in the last quarter. Morningstar Investment Services LLC boosted its stake in shares of Wells Fargo & Company by 103.7% in the 4th quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider's stock valued at $189,684,000 after purchasing an additional 1,951,477 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Wells Fargo & Company by 42.7% in the 4th quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider's stock valued at $285,668,000 after purchasing an additional 1,729,132 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of Wells Fargo & Company by 91.5% in the 4th quarter. 1832 Asset Management L.P. now owns 3,503,169 shares of the financial services provider's stock valued at $172,426,000 after purchasing an additional 1,673,917 shares in the last quarter. Institutional investors own 75.90% of the company's stock.
Analysts Set New Price Targets
Several research analysts recently issued reports on the stock. Compass Point reiterated a "neutral" rating and set a $64.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. HSBC upped their price target on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a "hold" rating in a research report on Thursday, March 28th. StockNews.com upgraded shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a research report on Monday, April 15th. JPMorgan Chase & Co. upped their price target on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a "neutral" rating in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday, April 1st. Fourteen equities research 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 MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $58.99.
View Our Latest Research Report on WFC
Wells Fargo & Company Stock Up 0.3 %
Shares of NYSE WFC traded up $0.14 during midday trading on Friday, hitting $57.42. 15,375,130 shares of the stock traded hands, compared to its average volume of 18,041,262. The company has a market cap of $200.17 billion, a PE ratio of 11.99, a P/E/G ratio of 1.51 and a beta of 1.17. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The business has a 50 day moving average price of $59.38 and a two-hundred day moving average price of $54.10. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. Wells Fargo & Company's revenue was up .6% compared to the same quarter last year. On average, equities analysts predict that Wells Fargo & Company will post 5.08 EPS for the current year.
Wells Fargo & Company Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.44%. Wells Fargo & Company's dividend payout ratio is presently 29.23%.
About Wells Fargo & Company
(
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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