Fjarde AP Fonden Fourth Swedish National Pension Fund Lowers Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.8% in the 4th quarter, HoldingsChannel reports. The firm owned 560,945 shares of the financial services provider’s stock after selling 16,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Wells Fargo & Company were worth $39,401,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Spinnaker Trust increased its holdings in Wells Fargo & Company by 1.8% in the 4th quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock worth $520,000 after acquiring an additional 130 shares in the last quarter. MONECO Advisors LLC boosted its stake in Wells Fargo & Company by 1.9% in the 4th quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 134 shares during the period. Jacobsen Capital Management boosted its stake in Wells Fargo & Company by 2.8% in the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 148 shares during the period. New Republic Capital LLC boosted its stake in Wells Fargo & Company by 2.9% in the 4th quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 149 shares during the period. Finally, Quad Cities Investment Group LLC boosted its stake in Wells Fargo & Company by 0.3% in the 4th quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock worth $3,693,000 after purchasing an additional 158 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $77.43 on Friday. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The stock’s 50-day moving average is $75.20 and its 200 day moving average is $67.01. The company has a market cap of $257.81 billion, a P/E ratio of 14.39, a PEG ratio of 1.18 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the company earned $0.86 earnings per share. Research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Analyst Ratings Changes

Several research firms have weighed in on WFC. Piper Sandler upped their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Barclays upped their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Citigroup upped their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group upped their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, UBS Group increased their target price 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. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.