FUKOKU MUTUAL LIFE INSURANCE Co Boosts Stock Holdings in Wells Fargo & Company (NYSE:WFC)

FUKOKU MUTUAL LIFE INSURANCE Co raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 5.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 14,299 shares of the financial services provider’s stock after purchasing an additional 709 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Wells Fargo & Company were worth $1,004,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of WFC. Mn Services Vermogensbeheer B.V. increased its stake in Wells Fargo & Company by 2.1% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 1,434,500 shares of the financial services provider’s stock valued at $100,759,000 after purchasing an additional 29,700 shares in the last quarter. Apriem Advisors purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $203,000. Convergence Financial LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $212,000. Nwam LLC boosted its holdings in shares of Wells Fargo & Company by 58.3% in the 4th quarter. Nwam LLC now owns 8,664 shares of the financial services provider’s stock valued at $609,000 after acquiring an additional 3,191 shares during the last quarter. Finally, Cable Hill Partners LLC boosted its holdings in shares of Wells Fargo & Company by 41.6% in the 4th quarter. Cable Hill Partners LLC now owns 6,088 shares of the financial services provider’s stock valued at $428,000 after acquiring an additional 1,790 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.5 %

Shares of WFC stock opened at $76.39 on Thursday. The firm has a 50-day moving average price of $75.55 and a 200 day moving average price of $67.51. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The company has a market capitalization of $254.34 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.18 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its 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. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the previous year, the company posted $0.86 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.09%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Analyst Ratings Changes

WFC has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report 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 company a “buy” rating in a report on Friday, December 6th. Morgan Stanley increased their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Compass Point increased their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler increased their target price 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, December 3rd. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $73.39.

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.