Factory Mutual Insurance Co. Lowers Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Factory Mutual Insurance Co. lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 11.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 891,864 shares of the financial services provider’s stock after selling 118,500 shares during the period. Factory Mutual Insurance Co.’s holdings in Wells Fargo & Company were worth $43,898,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in Wells Fargo & Company during the 4th quarter valued at about $2,049,693,000. Moneta Group Investment Advisors LLC grew its stake in Wells Fargo & Company by 129,312.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock worth $1,085,410,000 after purchasing an additional 26,267,166 shares during the period. Renaissance Technologies LLC lifted its position in Wells Fargo & Company by 1,478.6% during the 1st quarter. Renaissance Technologies LLC now owns 8,390,611 shares of the financial services provider’s stock valued at $406,609,000 after acquiring an additional 7,859,100 shares during the period. Ontario Teachers Pension Plan Board bought a new stake in shares of Wells Fargo & Company in the 1st quarter worth approximately $345,861,000. Finally, Imprint Wealth LLC increased its holdings in shares of Wells Fargo & Company by 4,238.0% during the second quarter. Imprint Wealth LLC now owns 4,284,901 shares of the financial services provider’s stock valued at $428,490,000 after acquiring an additional 4,186,124 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock traded up $0.54 during midday trading on Thursday, reaching $57.67. 1,224,989 shares of the stock traded hands, compared to its average volume of 18,582,773. The stock has a market cap of $204.18 billion, a P/E ratio of 11.85, a PEG ratio of 1.19 and a beta of 1.19. The stock’s fifty day moving average is $53.92 and its 200-day moving average is $47.54. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. Wells Fargo & Company has a 12 month low of $36.27 and a 12 month high of $58.44.

Wells Fargo & Company (NYSE:WFCGet Free Report) last posted its earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. The business had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.30 billion. During the same period last year, the business posted $0.67 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Wells Fargo & Company will post 4.72 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WFC shares. Barclays lifted their target price on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Raymond James raised their target price on Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 16th. Piper Sandler reduced their price target on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, January 16th. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research report on Tuesday, March 19th. Finally, Compass Point increased their target price on shares of Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.68.

Check Out Our Latest Research Report on Wells Fargo & Company

Wells Fargo & Company Company Profile

(Free Report)

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: 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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