Wells Fargo & Company $WFC Shares Sold by Axa S.A.

Axa S.A. lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 21.3% during the 2nd quarter, Holdings Channel reports. The firm owned 345,730 shares of the financial services provider’s stock after selling 93,609 shares during the quarter. Axa S.A.’s holdings in Wells Fargo & Company were worth $27,700,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna acquired a new position in shares of Wells Fargo & Company in the 2nd quarter valued at $1,064,000. Lombard Odier Asset Management USA Corp acquired a new position in Wells Fargo & Company during the second quarter valued at $253,000. Lombard Odier Asset Management Switzerland SA boosted its holdings in Wells Fargo & Company by 5.9% in the second quarter. Lombard Odier Asset Management Switzerland SA now owns 45,754 shares of the financial services provider’s stock valued at $3,666,000 after purchasing an additional 2,567 shares during the last quarter. Fayez Sarofim & Co lifted its holdings in Wells Fargo & Company by 3.5% in the second quarter. Fayez Sarofim & Co now owns 58,816 shares of the financial services provider’s stock valued at $4,712,000 after acquiring an additional 1,963 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in Wells Fargo & Company by 3.4% during the second quarter. Daiwa Securities Group Inc. now owns 492,097 shares of the financial services provider’s stock valued at $39,426,000 after buying an additional 16,301 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 15th. Truist Financial lifted their target price on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Barclays boosted their price objective on Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Finally, Citigroup upped their price objective on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Eleven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.04.

Wells Fargo & Company Stock Up 2.0%

WFC stock opened at $90.67 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. Wells Fargo & Company has a one year low of $58.42 and a one year high of $91.11. The stock has a market capitalization of $284.63 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 0.92 and a beta of 1.11. The company has a fifty day moving average of $85.03 and a 200-day moving average of $81.47.

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

Wells Fargo & Company Announces Dividend

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

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.