XTX Topco Ltd Invests $1.63 Million in Wells Fargo & Company (NYSE:WFC)

XTX Topco Ltd bought a new position in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,233 shares of the financial services provider’s stock, valued at approximately $1,632,000.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth $3,365,658,000. Artisan Partners Limited Partnership acquired a new position in Wells Fargo & Company in the 4th quarter worth $117,026,000. KLP Kapitalforvaltning AS bought a new position in Wells Fargo & Company during the 4th quarter worth about $85,031,000. Korea Investment CORP raised its stake in shares of Wells Fargo & Company by 53.9% in the 4th 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 during the period. Finally, Artemis Investment Management LLP lifted its holdings in shares of Wells Fargo & Company by 410.8% in the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock valued at $96,567,000 after purchasing an additional 1,105,679 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on WFC shares. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Thursday, March 13th. Citigroup lowered their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. JPMorgan Chase & Co. reduced their target price on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Barclays lowered their price target on shares of Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Truist Financial decreased their price objective on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a report on Monday. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.88.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $63.17 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market cap of $206.26 billion, a price-to-earnings ratio of 11.74, a P/E/G ratio of 1.18 and a beta of 1.02. The stock’s fifty day moving average price is $72.49 and its two-hundred day moving average price is $71.02. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50.

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

Wells Fargo & Company Announces Dividend

The business also recently declared 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. This represents a $1.60 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 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.