Mn Services Vermogensbeheer B.V. Increases Position in Wells Fargo & Company $WFC

Mn Services Vermogensbeheer B.V. increased its holdings in Wells Fargo & Company (NYSE:WFC) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,238,100 shares of the financial services provider’s stock after buying an additional 18,700 shares during the quarter. Wells Fargo & Company comprises approximately 0.7% of Mn Services Vermogensbeheer B.V.’s investment portfolio, making the stock its 21st largest holding. Mn Services Vermogensbeheer B.V.’s holdings in Wells Fargo & Company were worth $103,778,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its position in Wells Fargo & Company by 0.4% during the second quarter. Vanguard Group Inc. now owns 302,092,955 shares of the financial services provider’s stock valued at $24,203,688,000 after buying an additional 1,341,222 shares during the period. Norges Bank purchased a new position in shares of Wells Fargo & Company in the second quarter valued at approximately $3,990,551,000. Massachusetts Financial Services Co. MA boosted its stake in Wells Fargo & Company by 7.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 17,859,680 shares of the financial services provider’s stock worth $1,496,998,000 after purchasing an additional 1,223,999 shares during the last quarter. Amundi grew its stake in Wells Fargo & Company by 18.2% during the 2nd quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock valued at $1,165,868,000 after acquiring an additional 2,180,693 shares in the last quarter. Finally, Pzena Investment Management LLC increased its holdings in shares of Wells Fargo & Company by 5.5% in the second quarter. Pzena Investment Management LLC now owns 10,371,812 shares of the financial services provider’s stock valued at $830,990,000 after purchasing an additional 542,493 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of recent analyst reports. Freedom Capital cut Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 15th. Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Wolfe Research reiterated an “outperform” rating and issued a $109.00 price objective on shares of Wells Fargo & Company in a research note on Wednesday, January 7th. UBS Group lowered their target price on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Finally, Argus increased their price target on shares of Wells Fargo & Company from $94.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Thirteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus price target of $94.87.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $87.00 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.84. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $97.76. The business’s 50-day simple moving average is $90.33 and its 200-day simple moving average is $84.97. The firm has a market capitalization of $273.11 billion, a P/E ratio of 13.88, a P/E/G ratio of 0.95 and a beta of 1.09.

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

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 28.71%.

Wells Fargo & 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.