Janus Henderson Group PLC Purchases 9,898 Shares of Wells Fargo & Company $WFC

Janus Henderson Group PLC grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 407,543 shares of the financial services provider’s stock after buying an additional 9,898 shares during the period. Janus Henderson Group PLC’s holdings in Wells Fargo & Company were worth $32,439,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WFC. Godfrey Financial Associates Inc. purchased a new stake in Wells Fargo & Company during the fourth quarter valued at about $25,000. Miller Capital Partners Inc. purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth about $25,000. Navalign LLC bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $26,000. Joseph Group Capital Management bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $28,000. Finally, Phillip James Consulting Co. purchased a new stake in shares of Wells Fargo & Company during the 1st quarter valued at approximately $28,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $86.60 on Monday. The stock’s 50-day simple moving average is $83.78 and its two-hundred day simple moving average is $83.08. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The firm has a market capitalization of $261.88 billion, a P/E ratio of 12.59, a P/E/G ratio of 0.94 and a beta of 0.92. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.23. The firm had revenue of $22.62 billion during the quarter, compared to the consensus estimate of $21.86 billion. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $1.60 EPS. As a group, equities analysts anticipate that Wells Fargo & Company will post 7.26 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be paid a $0.50 dividend. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 7th. Wells Fargo & Company’s payout ratio is 26.16%.

Wall Street Analyst Weigh In

WFC has been the subject of several analyst reports. Bank of America raised their price objective on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Piper Sandler reissued an “overweight” rating and set a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a report on Wednesday, April 15th. UBS Group dropped their target price on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, May 7th. Finally, KGI Securities cut Wells Fargo & Company to a “hold” rating in a research report on Thursday, April 16th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $98.61.

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.