Potentia Wealth Purchases New Holdings in Wells Fargo & Company (NYSE:WFC)

Potentia Wealth acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 22,112 shares of the financial services provider’s stock, valued at approximately $1,553,000. Wells Fargo & Company comprises 0.7% of Potentia Wealth’s portfolio, making the stock its 27th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Two Sigma Advisers LP lifted its holdings in shares of Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after acquiring an additional 5,237,500 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in Wells Fargo & Company by 158.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock worth $153,069,000 after purchasing an additional 1,659,716 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $85,031,000. Artemis Investment Management LLP grew its stake in shares of Wells Fargo & Company by 410.8% during the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock worth $96,567,000 after buying an additional 1,105,679 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in shares of Wells Fargo & Company by 81.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider’s stock valued at $111,914,000 after acquiring an additional 889,953 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $74.28 on Tuesday. The company’s 50 day moving average is $76.03 and its 200-day moving average is $69.62. The firm has a market cap of $244.25 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $20.58 billion. During the same quarter last year, the firm posted $0.86 EPS. The company’s revenue was down .5% compared to the same quarter last year. Sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Analyst Ratings Changes

Several research firms have recently issued reports on WFC. Citigroup lowered their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Thursday, March 13th. Barclays lifted their price objective 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. Piper Sandler raised their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Compass Point lifted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.18.

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.