Ilmarinen Mutual Pension Insurance Co Raises Stake in Wells Fargo & Company (NYSE:WFC)

Ilmarinen Mutual Pension Insurance Co boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 84.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 469,500 shares of the financial services provider’s stock after acquiring an additional 214,500 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Wells Fargo & Company were worth $32,978,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of WFC. Hurley Capital LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth $43,000. Perennial Investment Advisors LLC raised its stake in Wells Fargo & Company by 1.9% in the fourth quarter. Perennial Investment Advisors LLC now owns 9,368 shares of the financial services provider’s stock valued at $658,000 after buying an additional 176 shares in the last quarter. Mizuho Bank Ltd. purchased a new stake in Wells Fargo & Company during the 4th quarter worth about $69,000. Oarsman Capital Inc. boosted its position in shares of Wells Fargo & Company by 1.7% during the 4th quarter. Oarsman Capital Inc. now owns 38,409 shares of the financial services provider’s stock worth $2,698,000 after acquiring an additional 640 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $70,999,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on WFC. The Goldman Sachs Group upped their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. JPMorgan Chase & Co. reduced their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a research report on Thursday. Bank of America cut their price target on shares of Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday. Compass Point upped their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Barclays lifted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average target price of $75.50.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $60.91 on Friday. The company has a market cap of $198.89 billion, a P/E ratio of 11.32, a P/E/G ratio of 1.18 and a beta of 1.16. The business has a fifty day simple moving average of $74.93 and a 200-day simple moving average of $70.44. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week 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 posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS 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 company had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same period in the prior year, the company earned $0.86 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. Equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

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.