Mitsubishi UFJ Asset Management Co. Ltd. Has $389.71 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 6.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,464,967 shares of the financial services provider’s stock after purchasing an additional 352,821 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of Wells Fargo & Company worth $389,707,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Larson Financial Group LLC lifted its position in shares of Wells Fargo & Company by 21.8% in the third quarter. Larson Financial Group LLC now owns 6,129 shares of the financial services provider’s stock valued at $346,000 after buying an additional 1,097 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Wells Fargo & Company by 13.8% in the third quarter. Fisher Asset Management LLC now owns 24,833 shares of the financial services provider’s stock worth $1,403,000 after purchasing an additional 3,016 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Wells Fargo & Company in the 3rd quarter valued at approximately $256,000. Truvestments Capital LLC bought a new stake in Wells Fargo & Company during the third quarter worth $29,000. Finally, Transamerica Financial Advisors Inc. boosted its stake in Wells Fargo & Company by 44.5% in the third quarter. Transamerica Financial Advisors Inc. now owns 9,544 shares of the financial services provider’s stock valued at $540,000 after buying an additional 2,940 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 1.1 %

Shares of NYSE WFC opened at $73.45 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market cap of $239.83 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.18 and a beta of 1.16. The business’s 50 day moving average price is $76.04 and its 200-day moving average price is $69.79. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same period last year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Citigroup dropped their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a report on Monday. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Thursday, March 13th. Keefe, Bruyette & Woods lifted their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. UBS Group increased their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Compass Point upped their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.18.

About Wells Fargo & Company

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.