Capital International Investors Has $3.23 Billion Holdings in Wells Fargo & Company (NYSE:WFC)

Capital International Investors reduced its stake in Wells Fargo & Company (NYSE:WFC) by 6.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,951,109 shares of the financial services provider’s stock after selling 2,987,566 shares during the period. Capital International Investors owned about 1.38% of Wells Fargo & Company worth $3,227,697,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in WFC. Rialto Wealth Management LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at $26,000. Investment Counsel Co. of Nevada bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $28,000. Rakuten Securities Inc. raised its holdings in Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after buying an additional 237 shares during the last quarter. Modus Advisors LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $30,000. Finally, McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company during the 4th quarter worth approximately $30,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WFC. Truist Financial reduced their price objective on shares of Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday. Piper Sandler decreased their price target on Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday. Bank of America lowered their price objective on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Morgan Stanley upped their target price on Wells Fargo & Company from $79.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, April 7th. Finally, Raymond James dropped their price target on shares of Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating on the stock in a research report on Monday. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $75.34.

Wells Fargo & Company Stock Performance

WFC opened at $64.63 on Friday. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a market cap of $211.02 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.18 and a beta of 1.02. The company’s fifty day moving average price is $71.53 and its two-hundred day moving average price is $70.98. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.16. The company had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.20 EPS. On average, analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.48%. Wells Fargo & Company’s payout ratio is 28.73%.

About Wells Fargo & Company

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.