Lansforsakringar Fondforvaltning AB publ Raises Position in Wells Fargo & Company $WFC

Lansforsakringar Fondforvaltning AB publ raised its position in Wells Fargo & Company (NYSE:WFC) by 2.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,027,600 shares of the financial services provider’s stock after buying an additional 24,875 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Wells Fargo & Company were worth $86,133,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Wells Fargo & Company in the second quarter worth approximately $3,990,551,000. Massachusetts Financial Services Co. MA raised its stake in Wells Fargo & Company by 54.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock valued at $1,332,851,000 after purchasing an additional 5,894,747 shares during the last quarter. M&G PLC lifted its holdings in Wells Fargo & Company by 320.3% in the 3rd quarter. M&G PLC now owns 2,946,277 shares of the financial services provider’s stock valued at $247,487,000 after purchasing an additional 2,245,307 shares in the last quarter. Amundi boosted 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 worth $1,165,868,000 after purchasing an additional 2,180,693 shares during the last quarter. Finally, Laurel Wealth Advisors LLC boosted its stake in Wells Fargo & Company by 8,010.7% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,973,730 shares of the financial services provider’s stock worth $158,135,000 after purchasing an additional 1,949,395 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WFC. Keefe, Bruyette & Woods increased their target price on shares of Wells Fargo & Company from $92.00 to $101.00 and gave the company a “market perform” rating in a research report on Wednesday, December 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Wells Fargo & Company in a research note on Thursday, January 15th. CICC Research began coverage on shares of Wells Fargo & Company in a research note on Wednesday, January 14th. They issued a “market perform” rating and a $96.00 target price on the stock. Freedom Capital cut Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 15th. Finally, TD Cowen dropped their price target on Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, January 15th. Thirteen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.03.

Check Out Our Latest Report on Wells Fargo & Company

Insider Buying and Selling

In other Wells Fargo & Company news, EVP Kleber Santos sold 25,000 shares of Wells Fargo & Company stock in a transaction on Friday, February 20th. The stock was sold at an average price of $87.72, for a total value of $2,193,000.00. Following the sale, the executive vice president owned 79,876 shares in the company, valued at $7,006,722.72. The trade was a 23.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by corporate insiders.

Trending Headlines about Wells Fargo & Company

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Wells Fargo & Company Stock Performance

NYSE:WFC opened at $88.61 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. The firm has a market capitalization of $278.17 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 0.97 and a beta of 1.09. The company’s 50-day moving average is $91.49 and its two-hundred day moving average is $86.20. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $97.76.

Wells Fargo & Company (NYSE:WFCGet Free Report) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.10. The business had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.43 EPS. Analysts forecast 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 will be paid on Sunday, March 1st. Shareholders of record on Friday, February 6th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $1.80 annualized dividend and a yield of 2.0%. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.71%.

Wells Fargo & Company Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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