New York State Teachers Retirement System Has $214.99 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

New York State Teachers Retirement System lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 7.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,060,828 shares of the financial services provider’s stock after selling 248,147 shares during the period. Wells Fargo & Company makes up about 0.5% of New York State Teachers Retirement System’s holdings, making the stock its 28th biggest position. New York State Teachers Retirement System owned 0.09% of Wells Fargo & Company worth $214,993,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Two Sigma Advisers LP boosted its holdings in Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after acquiring an additional 5,237,500 shares in the last quarter. Canoe Financial LP bought a new position in shares of Wells Fargo & Company in the third quarter valued at approximately $160,529,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Wells Fargo & Company by 158.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock valued at $153,069,000 after purchasing an additional 1,659,716 shares in the last quarter. Artemis Investment Management LLP lifted its holdings in shares of Wells Fargo & Company by 410.8% in the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock valued at $96,567,000 after purchasing an additional 1,105,679 shares in the last quarter. Finally, National Pension Service lifted its holdings in shares of Wells Fargo & Company by 15.2% in the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after purchasing an additional 897,195 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on WFC shares. UBS Group raised their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Piper Sandler raised their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods increased their price target on 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. Truist Financial increased their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Barclays increased their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $78.76 on Friday. The stock has a market cap of $262.23 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a fifty-two week low of $47.96 and a fifty-two week high of $81.50. 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 stock has a fifty day moving average of $74.20 and a 200-day moving average of $65.87.

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

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

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.