E. Ohman J or Asset Management AB Buys New Holdings in Wells Fargo & Company $WFC

E. Ohman J or Asset Management AB purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 89,194 shares of the financial services provider’s stock, valued at approximately $8,313,000.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at approximately $3,990,551,000. Capital Research Global Investors increased its holdings in shares of Wells Fargo & Company by 18.6% during the 3rd quarter. Capital Research Global Investors now owns 35,660,903 shares of the financial services provider’s stock worth $2,989,104,000 after acquiring an additional 5,584,930 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Wells Fargo & Company by 1.9% during the 3rd quarter. Legal & General Group Plc now owns 21,009,237 shares of the financial services provider’s stock worth $1,760,994,000 after acquiring an additional 399,088 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Wells Fargo & Company by 7.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 17,859,680 shares of the financial services provider’s stock valued at $1,496,998,000 after acquiring an additional 1,223,999 shares during the period. Finally, Amundi raised its stake in Wells Fargo & Company by 18.2% in the 2nd quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock valued at $1,165,868,000 after acquiring an additional 2,180,693 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Argus lifted their price objective on shares of Wells Fargo & Company from $94.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. UBS Group reissued a “buy” rating and issued a $113.00 price objective on shares of Wells Fargo & Company in a research report on Wednesday, February 4th. The Goldman Sachs Group cut their target price on shares of Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating for the company in a research note on Monday. Robert W. Baird upgraded shares of Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 price target on the stock in a research note on Friday, February 13th. Finally, TD Cowen lowered their price target on shares of Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, January 15th. Thirteen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and an average target price of $96.82.

Wells Fargo & Company Stock Up 0.9%

WFC stock opened at $78.27 on Tuesday. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $97.76. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $241.53 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 0.85 and a beta of 1.08. The business’s fifty day moving average price is $85.45 and its two-hundred day moving average price is $86.32.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $21.29 billion during the quarter, compared to analysts’ expectations of $21.63 billion. During the same quarter in the previous year, the business posted $1.43 earnings per share. Wells Fargo & Company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, March 1st. Shareholders of record on Friday, February 6th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. Wells Fargo & Company’s payout ratio is currently 28.71%.

Insiders Place Their Bets

In other news, EVP Ellen R. Patterson sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.40, for a total value of $5,244,000.00. Following the completion of the sale, the executive vice president directly owned 169,496 shares in the company, valued at approximately $14,813,950.40. The trade was a 26.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kleber Santos sold 25,000 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $87.72, for a total value of $2,193,000.00. Following the sale, the executive vice president directly owned 79,876 shares in the company, valued at $7,006,722.72. This represents a 23.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 115,000 shares of company stock worth $10,050,000 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

Wells Fargo & Company Company Profile

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.