Legal & General Group Plc Makes New $1.64 Billion Investment in Wells Fargo & Company $WFC

Legal & General Group Plc acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 19,795,267 shares of the financial services provider’s stock, valued at approximately $1,635,881,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in WFC. Godfrey Financial Associates Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter worth about $25,000. Miller Capital Partners Inc. acquired a new position in Wells Fargo & Company during the 4th quarter valued at about $25,000. Navalign LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $26,000. Joseph Group Capital Management bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $28,000. Finally, Core Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $29,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $85.24 on Thursday. The company has a market capitalization of $257.77 billion, a PE ratio of 12.39, a PEG ratio of 0.92 and a beta of 0.92. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. The stock’s fifty day simple moving average is $86.13 and its 200 day simple moving average is $82.75.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.23. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The firm had revenue of $22.62 billion during the quarter, compared to analysts’ expectations of $21.86 billion. During the same period in the previous year, the firm earned $1.60 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. On average, research analysts predict that Wells Fargo & Company will post 7.26 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be issued a dividend of $0.50 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 7th. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.07%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WFC. Robert W. Baird increased their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Keefe, Bruyette & Woods dropped their target price on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating for the company in a research report on Wednesday, July 15th. Raymond James Financial reissued a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. Finally, Truist Financial raised their price target on Wells Fargo & Company from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.61.

More Wells Fargo & Company News

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Profitability momentum: Wells Fargo has improved return on tangible common equity (ROTCE) from 8% in late 2020 to 14.6% at the end of 2025 and is targeting 17%–18%. Sustaining those gains could support a higher valuation as regulatory and restructuring burdens ease. Wells Fargo Hits 17%-18% ROTCE Target: Can It Sustain the Momentum?
• Positive Sentiment: Valuation appeal: An analyst comparison characterized WFC as offering a lower valuation and improving efficiency than PNC Financial, potentially giving Wells Fargo more upside if earnings remain strong. The bank’s latest reported quarter also exceeded consensus estimates for both earnings and revenue, with revenue up year over year. Wells Fargo vs. PNC Financial: Which Stock Offers Better Upside Now?
• Neutral Sentiment: Acquisition speculation: Wells Fargo has become a focus of broader banking-sector merger speculation, including possible interest involving Citizens Financial. No transaction has been announced, so the development provides limited immediate fundamental impact. Wells Fargo at center of attention as acquisition speculation rises in banking sector
• Neutral Sentiment: Community investments: New affordable-housing and financial-education commitments in North Dakota and Wyoming reinforce Wells Fargo’s community-banking initiatives but are unlikely to materially affect near-term earnings. Wells Fargo Expands Affordable Senior Housing and Financial Education With $1.2 Million in North Dakota
• Negative Sentiment: Commercial real estate exposure: Wells Fargo is foreclosing on Workspace Property Trust’s roughly $1.3 billion property portfolio after declining occupancy and asset values increased financial stress. The move may enable collateral recovery, but it also underscores potential losses and credit risks in the bank’s commercial real estate book. Wells Fargo Forecloses On $1.3B Workspace Property Trust Loan

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.