Allianz SE Makes New $12.19 Million Investment in Wells Fargo & Company (NYSE:WFC)

Allianz SE acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 173,185 shares of the financial services provider’s stock, valued at approximately $12,194,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $3,365,658,000. Nordea Investment Management AB increased its position in Wells Fargo & Company by 10.1% during the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock worth $441,983,000 after buying an additional 575,892 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of 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 valued at $336,375,000 after buying an additional 5,237,500 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Wells Fargo & Company by 6.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,464,967 shares of the financial services provider’s stock worth $389,707,000 after acquiring an additional 352,821 shares during the period. Finally, Korea Investment CORP increased its holdings in shares of Wells Fargo & Company by 53.9% during the 4th quarter. Korea Investment CORP now owns 3,286,809 shares of the financial services provider’s stock worth $230,865,000 after acquiring an additional 1,150,443 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on WFC shares. Truist Financial lifted their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Citigroup lowered their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Thursday, March 13th. UBS Group lifted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Barclays boosted their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.97.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $70.71 on Friday. The business has a fifty day simple moving average of $75.84 and a 200 day simple moving average of $69.92. The company has a market cap of $230.87 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50.

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

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Wells Fargo & Company Company Profile

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.