Groupama Asset Managment Purchases 17,841 Shares of Wells Fargo & Company (NYSE:WFC)

Groupama Asset Managment grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 30.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 75,652 shares of the financial services provider’s stock after acquiring an additional 17,841 shares during the quarter. Groupama Asset Managment’s holdings in Wells Fargo & Company were worth $5,327,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Headlands Technologies LLC grew its stake in shares of Wells Fargo & Company by 1.3% in the 4th quarter. Headlands Technologies LLC now owns 59,180 shares of the financial services provider’s stock worth $4,157,000 after buying an additional 766 shares in the last quarter. PFC Capital Group Inc. lifted its holdings in shares of Wells Fargo & Company by 56.3% in the 4th quarter. PFC Capital Group Inc. now owns 5,550 shares of the financial services provider’s stock valued at $389,000 after acquiring an additional 2,000 shares during the last quarter. HighPoint Advisor Group LLC grew its position in Wells Fargo & Company by 1.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 62,626 shares of the financial services provider’s stock worth $4,399,000 after acquiring an additional 1,119 shares in the last quarter. Seven Mile Advisory increased its stake in Wells Fargo & Company by 6.9% during the fourth quarter. Seven Mile Advisory now owns 6,636 shares of the financial services provider’s stock worth $466,000 after acquiring an additional 430 shares during the last quarter. Finally, Cannell & Spears LLC raised its position in Wells Fargo & Company by 4.0% during the fourth quarter. Cannell & Spears LLC now owns 12,272 shares of the financial services provider’s stock valued at $862,000 after purchasing an additional 472 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Down 0.7 %

NYSE:WFC opened at $71.27 on Wednesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a 50-day simple moving average of $75.60 and a 200-day simple moving average of $70.42. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The firm has a market cap of $232.72 billion, a P/E ratio of 13.25, a P/E/G ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. Equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WFC. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Thursday, March 13th. Truist Financial lifted their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. The Goldman Sachs Group increased their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Compass Point raised their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus target price of $74.97.

Wells Fargo & 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.