PensionDanmark Pensionsforsikringsaktieselskab Has $50.95 Million Holdings in Wells Fargo & Company $WFC

PensionDanmark Pensionsforsikringsaktieselskab grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 10.8% in the 2nd quarter, Holdings Channel reports. The firm owned 616,574 shares of the financial services provider’s stock after acquiring an additional 59,953 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Wells Fargo & Company were worth $50,954,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Godfrey Financial Associates Inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $25,000. Miller Capital Partners Inc. acquired a new position in Wells Fargo & Company in the fourth quarter valued at $25,000. Navalign LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at $26,000. Joseph Group Capital Management bought a new stake in Wells Fargo & Company during the fourth quarter valued at $28,000. Finally, Phillip James Consulting Co. bought a new stake in Wells Fargo & Company during the first quarter valued at $28,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Phillip Securities upgraded Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, May 7th. UBS Group cut their target price on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Piper Sandler reaffirmed an “overweight” rating and set a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. Bank of America raised their target price on Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Finally, Truist Financial lifted their target price on Wells Fargo & Company from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus target price of $98.61.

Wells Fargo & Company Trading Down 1.8%

NYSE:WFC opened at $87.57 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $264.81 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 0.97 and a beta of 0.92. The firm has a fifty day simple moving average of $84.70 and a two-hundred day simple moving average of $83.03. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.23. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The firm had revenue of $22.62 billion for the quarter, compared to analyst estimates of $21.86 billion. During the same quarter in the prior year, the business earned $1.60 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Analysts expect that Wells Fargo & Company will post 7.26 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 7th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s dividend payout ratio is presently 26.16%.

Wells Fargo & 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.