National Pension Service Has $449.22 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

National Pension Service decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 5.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,395,484 shares of the financial services provider’s stock after selling 393,887 shares during the period. National Pension Service’s holdings in Wells Fargo & Company were worth $449,219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Diamond Hill Capital Management Inc. raised its holdings in Wells Fargo & Company by 2.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock worth $375,183,000 after buying an additional 162,066 shares during the period. Nordea Investment Management AB raised its holdings in Wells Fargo & Company by 10.1% during the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock worth $441,983,000 after acquiring an additional 575,892 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after buying an additional 5,237,500 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Wells Fargo & Company by 158.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock valued at $153,069,000 after acquiring an additional 1,659,716 shares during the period. Finally, Public Sector Pension Investment Board increased its position in Wells Fargo & Company by 81.6% during the third quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider’s stock worth $111,914,000 after buying an additional 889,953 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $75.95 on Wednesday. The company’s 50-day moving average is $75.40 and its 200 day moving average is $67.44. The firm has a market capitalization of $252.87 billion, a P/E ratio of 14.12, 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 current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 EPS. Research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.11%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Analyst Ratings Changes

Several research firms have recently commented on WFC. Keefe, Bruyette & Woods upped their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. UBS Group raised their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Truist Financial raised their target price 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. Finally, Citigroup boosted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.39.

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.