23,575 Shares in Wells Fargo & Company (NYSE:WFC) Acquired by Financiere des Professionnels Fonds d investissement inc.

Financiere des Professionnels Fonds d investissement inc. acquired a new position in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 23,575 shares of the financial services provider’s stock, valued at approximately $1,656,000.

A number of other institutional investors also recently modified their holdings of WFC. Two Sigma Advisers LP boosted its stake in shares of Wells Fargo & Company by 730.4% during 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 period. Canoe Financial LP acquired a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at $160,529,000. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of 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 valued at $153,069,000 after buying an additional 1,659,716 shares during the period. Artemis Investment Management LLP boosted its stake in shares of Wells Fargo & Company by 410.8% during the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock valued at $96,567,000 after buying an additional 1,105,679 shares during the period. Finally, National Pension Service boosted its stake in shares of Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after buying an additional 897,195 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Compass Point lifted 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. Morgan Stanley lifted their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Citigroup lifted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. UBS Group lifted their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group lifted 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. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $79.68 on Monday. The firm has a market cap of $265.29 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $48.62 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. The company’s 50-day moving average price is $74.41 and its two-hundred day moving average price is $66.15.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results 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. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period in the previous year, the business earned $0.86 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.01%. Wells Fargo & Company’s payout ratio is 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.