State of New Jersey Common Pension Fund D Has $94.14 Million Stock Position in Wells Fargo & Company $WFC

State of New Jersey Common Pension Fund D increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,123,168 shares of the financial services provider’s stock after buying an additional 20,419 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Wells Fargo & Company were worth $94,144,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of WFC. Brighton Jones LLC grew its holdings in Wells Fargo & Company by 62.3% in the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after buying an additional 25,436 shares during the last quarter. Kanawha Capital Management LLC boosted its position in shares of Wells Fargo & Company by 6.8% in the second quarter. Kanawha Capital Management LLC now owns 14,170 shares of the financial services provider’s stock valued at $1,135,000 after acquiring an additional 900 shares during the period. Hoese & Co LLP grew its stake in shares of Wells Fargo & Company by 61.0% in the second quarter. Hoese & Co LLP now owns 1,174 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 445 shares during the last quarter. Citizens Business Bank increased its position in Wells Fargo & Company by 19.3% during the second quarter. Citizens Business Bank now owns 3,989 shares of the financial services provider’s stock worth $319,000 after acquiring an additional 645 shares during the period. Finally, Koshinski Asset Management Inc. raised its stake in Wells Fargo & Company by 23.2% during the 2nd quarter. Koshinski Asset Management Inc. now owns 12,550 shares of the financial services provider’s stock valued at $1,005,000 after purchasing an additional 2,365 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the topic of several research analyst reports. Argus raised their price target on shares of Wells Fargo & Company from $94.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Robert W. Baird raised Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 target price on the stock in a research report on Friday. Evercore lowered their price target on Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, January 15th. JPMorgan Chase & Co. raised their price objective on Wells Fargo & Company from $99.00 to $99.50 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Finally, HSBC reaffirmed a “hold” rating and issued a $74.00 target price on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Thirteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.03.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $86.94 on Friday. The stock’s fifty day simple moving average is $91.80 and its 200 day simple moving average is $85.90. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.84. The firm has a market cap of $272.92 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 0.95 and a beta of 1.09. Wells Fargo & Company has a one year low of $58.42 and a one year high of $97.76.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.10. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The firm had revenue of $11.97 billion during the quarter, compared to analyst estimates of $21.63 billion. During the same period in the prior year, the company posted $1.43 earnings per share. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 6th will be paid a $0.45 dividend. The ex-dividend date is Friday, February 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. Wells Fargo & Company’s payout ratio is 28.71%.

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.