Wells Fargo & Company $WFC Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,123,168 shares of the financial services provider’s stock after purchasing an additional 20,419 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Wells Fargo & Company were worth $94,144,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of WFC. Norges Bank acquired a new stake in shares of Wells Fargo & Company during the second quarter valued at approximately $3,990,551,000. Massachusetts Financial Services Co. MA grew its position in Wells Fargo & Company by 54.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock worth $1,332,851,000 after purchasing an additional 5,894,747 shares in the last quarter. Amundi raised its stake in Wells Fargo & Company by 18.2% during the 2nd quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock valued at $1,165,868,000 after purchasing an additional 2,180,693 shares during the period. Laurel Wealth Advisors LLC raised its stake in Wells Fargo & Company by 8,010.7% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,973,730 shares of the financial services provider’s stock valued at $158,135,000 after purchasing an additional 1,949,395 shares during the period. Finally, Mawer Investment Management Ltd. purchased a new stake in shares of Wells Fargo & Company in the third quarter valued at $147,165,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

NYSE WFC opened at $86.94 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $272.92 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 0.95 and a beta of 1.09. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $97.76. The company has a 50 day moving average price of $91.80 and a two-hundred day moving average price of $85.90.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.10. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The business had revenue of $11.97 billion during the quarter, compared to analyst estimates of $21.63 billion. During the same quarter in the previous year, the business earned $1.43 EPS. Wells Fargo & Company’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, equities analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 6th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is currently 28.71%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. TD Cowen lowered their price target on Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, January 15th. JPMorgan Chase & Co. lifted their target price on Wells Fargo & Company from $99.00 to $99.50 and gave the company a “neutral” rating in a research note on Monday, February 9th. Dbs Bank upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Wolfe Research reiterated an “outperform” rating and issued a $109.00 target price on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a report on Wednesday, January 21st. Thirteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $97.03.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.