Two Sigma Advisers LP boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 730.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,954,600 shares of the financial services provider's stock after purchasing an additional 5,237,500 shares during the period. Two Sigma Advisers LP owned about 0.18% of Wells Fargo & Company worth $336,375,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of WFC. Canoe Financial LP purchased a new stake in shares of Wells Fargo & Company in the 3rd quarter worth about $160,529,000. Marshall Wace LLP increased its position in Wells Fargo & Company by 3,295.6% during the 2nd quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider's stock valued at $138,493,000 after buying an additional 2,404,898 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in Wells Fargo & Company by 158.1% during 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 buying an additional 1,659,716 shares during the last quarter. National Pension Service boosted its holdings in 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 worth $383,532,000 after acquiring an additional 897,195 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its stake in shares of Wells Fargo & Company by 81.6% in the third quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider's stock worth $111,914,000 after acquiring an additional 889,953 shares during the last quarter. Institutional investors own 75.90% of the company's stock.
In related news, EVP Beurden Saul Van sold 35,000 shares of the business's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the transaction, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. The trade was a 21.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value of $3,822,000.00. Following the sale, the executive vice president now owns 163,610 shares of the company's stock, valued at approximately $10,421,957. This trade represents a 26.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.08% of the company's stock.
A number of equities analysts recently issued reports on the stock. Evercore ISI upped their price target 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. Wolfe Research raised Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 target price for the company in a report on Tuesday, October 8th. The Goldman Sachs Group reduced their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, September 11th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Finally, Piper Sandler increased their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a research report on Tuesday. Thirteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $64.62.
View Our Latest Stock Analysis on WFC
NYSE:WFC opened at $73.66 on Friday. The business's 50-day moving average is $67.02 and its 200 day moving average is $60.70. Wells Fargo & Company has a 12 month low of $44.43 and a 12 month high of $78.13. The company has a market capitalization of $245.25 billion, a P/E ratio of 15.31, a P/E/G ratio of 1.55 and a beta of 1.16. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The firm had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same period in the prior year, the company earned $1.39 EPS. The company's quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities research analysts forecast that Wells Fargo & Company will post 5.42 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were paid a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. Wells Fargo & Company's payout ratio is currently 33.26%.
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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