QRG Capital Management Inc. Purchases 69,497 Shares of Wells Fargo & Company (NYSE:WFC)

QRG Capital Management Inc. lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 9.9% during the 4th quarter, HoldingsChannel reports. The firm owned 772,292 shares of the financial services provider’s stock after acquiring an additional 69,497 shares during the period. Wells Fargo & Company accounts for about 0.6% of QRG Capital Management Inc.’s investment portfolio, making the stock its 29th biggest holding. QRG Capital Management Inc.’s holdings in Wells Fargo & Company were worth $54,246,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Empowered Funds LLC boosted its position in shares of Wells Fargo & Company by 19.1% during the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock valued at $13,369,000 after purchasing an additional 30,510 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Wells Fargo & Company by 37.2% during the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock valued at $36,055,000 after purchasing an additional 173,083 shares in the last quarter. Atlantic Union Bankshares Corp boosted its position in shares of Wells Fargo & Company by 17.4% during the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock valued at $10,031,000 after purchasing an additional 26,320 shares in the last quarter. Chartwell Investment Partners LLC boosted its position in shares of Wells Fargo & Company by 16.4% during the third quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock valued at $7,504,000 after purchasing an additional 18,717 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Wells Fargo & Company by 14.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider’s stock valued at $58,055,000 after purchasing an additional 131,322 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Up 0.5 %

Wells Fargo & Company stock opened at $76.39 on Thursday. The stock has a market cap of $254.34 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The stock has a fifty day moving average of $75.55 and a 200 day moving average of $67.51.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 earnings per share. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WFC shares. Keefe, Bruyette & Woods boosted their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Truist Financial boosted their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. UBS Group boosted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Piper Sandler boosted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Evercore ISI boosted their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company currently has an average 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.