Norinchukin Bank The Acquires 5,619 Shares of Wells Fargo & Company (NYSE:WFC)

Norinchukin Bank The grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 127,617 shares of the financial services provider’s stock after buying an additional 5,619 shares during the quarter. Norinchukin Bank The’s holdings in Wells Fargo & Company were worth $4,986,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Dodge & Cox boosted its holdings in shares of Wells Fargo & Company by 13.3% in the fourth quarter. Dodge & Cox now owns 148,429,020 shares of the financial services provider’s stock valued at $4,479,588,000 after purchasing an additional 17,452,785 shares during the period. FMR LLC boosted its holdings in shares of Wells Fargo & Company by 28.7% in the fourth quarter. FMR LLC now owns 133,862,824 shares of the financial services provider’s stock valued at $4,039,980,000 after purchasing an additional 29,812,530 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Wells Fargo & Company by 8.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 106,531,722 shares of the financial services provider’s stock valued at $3,215,092,000 after purchasing an additional 8,301,054 shares during the period. Primecap Management Co. CA boosted its holdings in shares of Wells Fargo & Company by 5.3% in the fourth quarter. Primecap Management Co. CA now owns 48,609,110 shares of the financial services provider’s stock valued at $1,467,023,000 after purchasing an additional 2,460,730 shares during the period. Finally, Sanders Capital LLC boosted its holdings in shares of Wells Fargo & Company by 1.7% in the first quarter. Sanders Capital LLC now owns 47,763,085 shares of the financial services provider’s stock valued at $2,030,799,000 after purchasing an additional 815,990 shares during the period. Hedge funds and other institutional investors own 69.37% of the company’s stock.

A number of brokerages recently issued reports on WFC. Deutsche Bank Aktiengesellschaft boosted their price target on Wells Fargo & Company from $45.00 to $48.00 and gave the company a “buy” rating in a report on Monday, April 26th. BMO Capital Markets upped their target price on Wells Fargo & Company from $40.00 to $43.00 in a report on Thursday, April 15th. Barclays upped their target price on Wells Fargo & Company from $42.00 to $46.00 and gave the stock an “equal weight” rating in a report on Thursday, April 15th. Royal Bank of Canada upped their target price on Wells Fargo & Company from $34.00 to $40.00 in a report on Thursday, April 15th. Finally, Argus upped their target price on Wells Fargo & Company from $37.00 to $47.00 in a report on Thursday, April 15th. Nine research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Wells Fargo & Company currently has a consensus rating of “Buy” and an average price target of $43.61.

NYSE WFC opened at $45.09 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.84. The firm has a fifty day moving average price of $44.71. Wells Fargo & Company has a 1 year low of $20.76 and a 1 year high of $48.13. The firm has a market cap of $186.38 billion, a P/E ratio of 31.10, a price-to-earnings-growth ratio of 1.28 and a beta of 1.36.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, April 13th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.36. The firm had revenue of $18.06 billion for the quarter, compared to the consensus estimate of $17.42 billion. Wells Fargo & Company had a return on equity of 4.88% and a net margin of 9.42%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 EPS. As a group, sell-side analysts predict that Wells Fargo & Company will post 3.72 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Friday, May 7th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.89%. The ex-dividend date was Thursday, May 6th. Wells Fargo & Company’s dividend payout ratio is currently 72.73%.

About Wells Fargo & Company

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating 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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