NEOS Investment Management LLC Boosts Stock Position in Wells Fargo & Company (NYSE:WFC)

NEOS Investment Management LLC grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 6.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 182,126 shares of the financial services provider’s stock after acquiring an additional 10,563 shares during the period. NEOS Investment Management LLC’s holdings in Wells Fargo & Company were worth $12,793,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UniSuper Management Pty Ltd raised its holdings in Wells Fargo & Company by 10.6% in the fourth quarter. UniSuper Management Pty Ltd now owns 1,670,356 shares of the financial services provider’s stock valued at $117,326,000 after acquiring an additional 159,988 shares in the last quarter. WINTON GROUP Ltd increased its position in shares of Wells Fargo & Company by 77.5% in the 4th quarter. WINTON GROUP Ltd now owns 11,130 shares of the financial services provider’s stock worth $782,000 after purchasing an additional 4,859 shares during the last quarter. Artisan Partners Limited Partnership acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $117,026,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Wells Fargo & Company by 6.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,464,967 shares of the financial services provider’s stock valued at $389,707,000 after purchasing an additional 352,821 shares in the last quarter. Finally, Korea Investment CORP lifted its position in shares of Wells Fargo & Company by 53.9% during the fourth quarter. Korea Investment CORP now owns 3,286,809 shares of the financial services provider’s stock worth $230,865,000 after purchasing an additional 1,150,443 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Barclays boosted their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Thursday, March 13th. Truist Financial raised their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Citigroup decreased their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a report on Monday. Finally, The Goldman Sachs Group increased their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.18.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $73.45 on Thursday. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The company has a market cap of $239.83 billion, a PE ratio of 13.65, a P/E/G ratio of 1.18 and a beta of 1.16. The stock has a 50 day simple moving average of $76.04 and a 200-day simple moving average of $69.79. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its 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 the consensus estimate of $20.58 billion. During the same quarter in the previous year, the business earned $0.86 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.18%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 29.74%.

Wells Fargo & 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.