Wells Fargo & Company $WFC Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 5.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,196,782 shares of the financial services provider’s stock after selling 355,346 shares during the period. California Public Employees Retirement System’s holdings in Wells Fargo & Company were worth $496,486,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WFC. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Wells Fargo & Company by 2,735,254.3% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after acquiring an additional 949,735,001 shares in the last quarter. Vanguard Group Inc. raised its stake in Wells Fargo & Company by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 302,092,955 shares of the financial services provider’s stock valued at $24,203,688,000 after purchasing an additional 1,341,222 shares during the last quarter. Norges Bank purchased a new position in Wells Fargo & Company in the 2nd quarter valued at $3,990,551,000. Dimensional Fund Advisors LP boosted its stake in Wells Fargo & Company by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider’s stock worth $1,471,259,000 after purchasing an additional 128,207 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Wells Fargo & Company by 54.9% during the second 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 buying an additional 5,894,747 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Down 0.4%

WFC opened at $89.86 on Friday. The stock has a market capitalization of $282.08 billion, a PE ratio of 14.78, a P/E/G ratio of 0.93 and a beta of 1.11. Wells Fargo & Company has a one year low of $58.42 and a one year high of $91.11. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The business’s 50 day moving average price is $84.63 and its 200 day moving average price is $81.12.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. During the same quarter in the previous year, the business earned $1.42 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, November 7th. Wells Fargo & Company’s payout ratio is 29.61%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Keefe, Bruyette & Woods raised their target price on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 15th. Dbs Bank upgraded Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Morgan Stanley increased their price target on Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. Finally, Truist Financial boosted their price objective on Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.57.

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.