Livforsakringsbolaget Skandia Omsesidigt Acquires Shares of 35,722 Wells Fargo & Company (NYSE:WFC)

Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 35,722 shares of the financial services provider’s stock, valued at approximately $2,509,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Income Research & Management bought a new position in shares of Wells Fargo & Company during the third quarter worth about $211,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter worth about $30,000. Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Wells Fargo & Company during the fourth quarter worth about $35,000. Finally, Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company during the third quarter worth about $29,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Truist Financial increased their price target 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. Compass Point increased 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 note on Tuesday, December 10th. Keefe, Bruyette & Woods increased their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. The Goldman Sachs Group increased their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Evercore ISI increased their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Trading Up 1.7 %

WFC opened at $81.45 on Friday. Wells Fargo & Company has a fifty-two week low of $47.45 and a fifty-two week high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market cap of $271.18 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18. The firm has a 50 day simple moving average of $73.72 and a 200 day simple moving average of $65.16.

Wells Fargo & Company (NYSE:WFC) last released 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 net margin of 15.73% and a return on equity of 12.38%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 earnings per share. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is 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.