Fjarde AP Fonden Fourth Swedish National Pension Fund Has $39.40 Million Position in Wells Fargo & Company (NYSE:WFC)

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 560,945 shares of the financial services provider’s stock after selling 16,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Wells Fargo & Company were worth $39,401,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Truvestments Capital LLC bought a new stake in Wells Fargo & Company during the 3rd quarter valued at $29,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company during the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company during the 4th quarter valued at $30,000. Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company during the 4th quarter valued at $32,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in Wells Fargo & Company during the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Truist Financial boosted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Barclays upped their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Evercore ISI upped their target price 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. The Goldman Sachs Group upped their target price 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, Compass Point upped their target price 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. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Price Performance

NYSE WFC opened at $77.43 on Friday. The company has a market cap of $257.81 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The firm’s 50-day simple moving average is $75.20 and its two-hundred day simple moving average is $67.01.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The business 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 company’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 earnings per share. Research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

About Wells Fargo & Company

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.