VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $57.96 Million Investment in Wells Fargo & Company $WFC

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 723,400 shares of the financial services provider’s stock, valued at approximately $57,959,000.

Several other large investors also recently made changes to their positions in the stock. Wealth Management Partners LLC boosted its holdings in shares of Wells Fargo & Company by 3.5% in the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock valued at $313,000 after buying an additional 128 shares during the last quarter. Verum Partners LLC lifted its holdings in Wells Fargo & Company by 1.8% during the 2nd quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock valued at $582,000 after purchasing an additional 128 shares during the last quarter. Motive Wealth Advisors lifted its holdings in Wells Fargo & Company by 3.7% during the 2nd quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 129 shares during the last quarter. Vivid Wealth Management LLC lifted its holdings in Wells Fargo & Company by 0.8% during the 2nd quarter. Vivid Wealth Management LLC now owns 17,243 shares of the financial services provider’s stock valued at $1,381,000 after purchasing an additional 133 shares during the last quarter. Finally, Lynch & Associates IN lifted its holdings in Wells Fargo & Company by 2.0% during the 2nd quarter. Lynch & Associates IN now owns 6,729 shares of the financial services provider’s stock valued at $539,000 after purchasing an additional 135 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $83.25 on Friday. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $87.47. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. The business’s 50-day moving average price is $81.21 and its two-hundred day moving average price is $76.93. The stock has a market cap of $266.70 billion, a PE ratio of 13.69, a P/E/G ratio of 1.15 and a beta of 1.25.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were given a $0.45 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.61%.

Analyst Upgrades and Downgrades

WFC has been the topic of several recent research reports. Piper Sandler reiterated an “overweight” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. TD Cowen increased their price objective on Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a research report on Wednesday. Dbs Bank upgraded Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Phillip Securities cut Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Finally, Morgan Stanley raised their price target on Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Ten analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.57.

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.