Artemis Investment Management LLP decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 11.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,764,874 shares of the financial services provider's stock after selling 235,440 shares during the period. Wells Fargo & Company accounts for about 1.0% of Artemis Investment Management LLP's portfolio, making the stock its 27th largest holding. Artemis Investment Management LLP's holdings in Wells Fargo & Company were worth $72,086,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of WFC. Dodge & Cox boosted its position in shares of Wells Fargo & Company by 1.4% in the first quarter. Dodge & Cox now owns 120,385,253 shares of the financial services provider's stock valued at $4,500,001,000 after acquiring an additional 1,662,877 shares during the period. Geode Capital Management LLC lifted its position in shares of Wells Fargo & Company by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 69,071,445 shares of the financial services provider's stock valued at $2,940,412,000 after acquiring an additional 324,823 shares during the period. Capital International Investors lifted its position in shares of Wells Fargo & Company by 69.1% during the 2nd quarter. Capital International Investors now owns 61,833,769 shares of the financial services provider's stock valued at $2,638,987,000 after acquiring an additional 25,268,032 shares during the period. Norges Bank bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $2,049,693,000. Finally, Moneta Group Investment Advisors LLC lifted its position in shares of Wells Fargo & Company by 129,312.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider's stock valued at $1,085,410,000 after acquiring an additional 26,267,166 shares during the period. Institutional investors own 72.47% of the company's stock.
Insider Transactions at Wells Fargo & Company
In other Wells Fargo & Company news, Director Richard K. Davis bought 3,500 shares of the firm's stock in a transaction dated Thursday, November 9th. The stock was bought at an average cost of $41.22 per share, with a total value of $144,270.00. Following the completion of the transaction, the director now directly owns 4,244 shares in the company, valued at approximately $174,937.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is currently owned by insiders.
Wells Fargo & Company Stock Up 0.6 %
Shares of NYSE WFC traded up $0.30 during trading on Friday, hitting $49.75. 1,810,969 shares of the company traded hands, compared to its average volume of 19,330,379. The firm has a market capitalization of $180.67 billion, a price-to-earnings ratio of 10.68, a P/E/G ratio of 0.96 and a beta of 1.18. The business's fifty day moving average is $42.99 and its 200 day moving average is $42.69. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.87 and a current ratio of 0.87. Wells Fargo & Company has a fifty-two week low of $35.25 and a fifty-two week high of $50.77.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Friday, October 13th. The financial services provider reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.24 by $0.15. Wells Fargo & Company had a return on equity of 11.18% and a net margin of 17.06%. The business had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.09 billion. During the same period in the previous year, the company posted $1.30 EPS. The firm's revenue was up 6.6% compared to the same quarter last year. Equities research analysts predict that Wells Fargo & Company will post 5.04 earnings per share for the current fiscal year.
Wells Fargo & Company Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 3rd were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Thursday, November 2nd. Wells Fargo & Company's payout ratio is presently 30.24%.
Analyst Ratings Changes
A number of analysts have recently weighed in on the company. Raymond James upped their target price on Wells Fargo & Company from $52.00 to $55.00 and gave the company a "strong-buy" rating in a research report on Wednesday, December 6th. HSBC initiated coverage on Wells Fargo & Company in a report on Thursday, September 7th. They issued a "hold" rating and a $45.00 target price on the stock. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, December 1st. Piper Sandler lifted their target price on Wells Fargo & Company from $45.00 to $47.00 and gave the company a "neutral" rating in a research report on Friday, December 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $44.00 target price on shares of Wells Fargo & Company in a research report on Friday, September 22nd. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $49.56.
Check Out Our Latest Stock Report on WFC
Wells Fargo & Company Profile
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Free Report)
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
See Also
Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC - Free Report).
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