Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 88,900 Shares of Wells Fargo & Company $WFC

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 20.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 523,045 shares of the financial services provider’s stock after purchasing an additional 88,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Wells Fargo & Company were worth $41,906,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC boosted its position in shares of Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 322 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Wells Fargo & Company during the second quarter valued at approximately $27,000. Motco boosted its position in shares of Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 326 shares in the last quarter. Accent Capital Management LLC bought a new stake in shares of Wells Fargo & Company during the first quarter valued at approximately $29,000. Finally, 1248 Management LLC bought a new stake in shares of Wells Fargo & Company during the first quarter valued at approximately $31,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Up 0.6%

WFC stock opened at $86.97 on Tuesday. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $87.47. The business has a fifty day moving average price of $82.08 and a 200-day moving average price of $77.94. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $278.59 billion, a P/E ratio of 14.30, a P/E/G ratio of 1.19 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.11. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. During the same quarter in the previous year, the business earned $1.42 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WFC. Morgan Stanley lifted their price target on Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. TD Cowen lifted their price objective on Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Dbs Bank upgraded Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Finally, Piper Sandler reiterated an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus target price of $89.57.

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.