Grantham Mayo Van Otterloo & Co. LLC Lowers Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Grantham Mayo Van Otterloo & Co. LLC lessened its holdings in Wells Fargo & Company (NYSE:WFC) by 11.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 8,729,358 shares of the financial services provider’s stock after selling 1,123,890 shares during the period. Wells Fargo & Company accounts for approximately 2.0% of Grantham Mayo Van Otterloo & Co. LLC’s holdings, making the stock its 17th biggest position. Grantham Mayo Van Otterloo & Co. LLC owned about 0.26% of Wells Fargo & Company worth $613,150,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of WFC. Norges Bank bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $3,365,658,000. Two Sigma Advisers LP increased its holdings in Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after acquiring an additional 5,237,500 shares during the last quarter. Artisan Partners Limited Partnership purchased a new stake in Wells Fargo & Company in the 4th quarter worth $117,026,000. KLP Kapitalforvaltning AS bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $85,031,000. Finally, Korea Investment CORP grew its position in shares of Wells Fargo & Company by 53.9% during the fourth quarter. Korea Investment CORP now owns 3,286,809 shares of the financial services provider’s stock valued at $230,865,000 after purchasing an additional 1,150,443 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Down 7.2 %

NYSE:WFC opened at $60.91 on Friday. The company has a market cap of $198.89 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a fifty day simple moving average of $74.93 and a 200-day simple moving average of $70.44.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 EPS. Analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.63%. Wells Fargo & Company’s payout ratio is currently 29.74%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Bank of America cut their target price on shares of Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday. Truist Financial decreased their price target on shares of Wells Fargo & Company from $86.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday. Citigroup dropped their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Finally, The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $75.50.

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.