Groupama Asset Managment Has $13.02 Million Holdings in Wells Fargo & Company $WFC

Groupama Asset Managment grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 11.2% in the 1st quarter, HoldingsChannel reports. The fund owned 163,490 shares of the financial services provider’s stock after buying an additional 16,511 shares during the period. Groupama Asset Managment’s holdings in Wells Fargo & Company were worth $13,015,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vestor Capital LLC lifted its holdings in shares of Wells Fargo & Company by 834.6% in the 1st quarter. Vestor Capital LLC now owns 3,944 shares of the financial services provider’s stock worth $314,000 after purchasing an additional 3,522 shares in the last quarter. Arete Wealth Advisors LLC grew its position in Wells Fargo & Company by 5.0% in the 1st quarter. Arete Wealth Advisors LLC now owns 34,158 shares of the financial services provider’s stock valued at $2,716,000 after purchasing an additional 1,625 shares during the period. Orographic Financial Advisors LLC bought a new stake in Wells Fargo & Company during the 1st quarter valued at $320,000. Kentucky Retirement Systems increased its stake in Wells Fargo & Company by 95.5% during the 1st quarter. Kentucky Retirement Systems now owns 395,760 shares of the financial services provider’s stock valued at $31,506,000 after purchasing an additional 193,280 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Wells Fargo & Company by 2.5% during the first quarter. Janus Henderson Group PLC now owns 407,543 shares of the financial services provider’s stock worth $32,439,000 after buying an additional 9,898 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Truist Financial raised their price objective on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Raymond James Financial restated a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 14th. Piper Sandler reaffirmed an “overweight” rating and issued a $94.00 price target (down from $100.00) on shares of Wells Fargo & Company in a research report on Wednesday, April 15th. Finally, Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average target price of $98.61.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $86.60 on Friday. The company has a market capitalization of $261.88 billion, a PE ratio of 12.59, a PEG ratio of 0.93 and a beta of 0.92. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09. The stock’s 50 day moving average price is $83.78 and its 200-day moving average price is $83.17. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.23. The company had revenue of $22.62 billion during the quarter, compared to the consensus estimate of $21.86 billion. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.Wells Fargo & Company’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the business posted $1.60 earnings per share. On average, equities analysts anticipate that Wells Fargo & Company will post 7.25 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. Shareholders of record on Friday, August 7th will be paid a $0.50 dividend. 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 dividend on an annualized basis and a yield of 2.3%. Wells Fargo & Company’s dividend payout ratio is currently 26.16%.

Wells Fargo & Company Company Profile

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.