Public Sector Pension Investment Board Has $111.91 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Public Sector Pension Investment Board raised its position in Wells Fargo & Company (NYSE:WFC) by 81.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,981,130 shares of the financial services provider’s stock after buying an additional 889,953 shares during the period. Public Sector Pension Investment Board’s holdings in Wells Fargo & Company were worth $111,914,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Wells Fargo & Company by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock worth $1,178,591,000 after acquiring an additional 831,975 shares in the last quarter. National Pension Service boosted its stake in Wells Fargo & Company by 15.2% in the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after purchasing an additional 897,195 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Wells Fargo & Company by 2.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock worth $375,183,000 after purchasing an additional 162,066 shares in the last quarter. First Pacific Advisors LP increased its stake in shares of Wells Fargo & Company by 2.1% in the second quarter. First Pacific Advisors LP now owns 5,278,666 shares of the financial services provider’s stock valued at $313,500,000 after buying an additional 108,480 shares in the last quarter. Finally, Canoe Financial LP bought a new position in shares of Wells Fargo & Company in the third quarter valued at about $160,529,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Insider Buying and Selling

In other news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the transaction, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. This represents a 26.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $61.99, for a total value of $2,169,650.00. Following the transaction, the executive vice president now owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. The trade was a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Wells Fargo & Company Stock Down 0.2 %

Shares of Wells Fargo & Company stock opened at $77.17 on Thursday. The company has a market capitalization of $256.94 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 1.60 and a beta of 1.14. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50-day moving average of $64.65 and a two-hundred day moving average of $60.13. Wells Fargo & Company has a 1 year low of $42.79 and a 1 year high of $78.13.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The business had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. Wells Fargo & Company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.39 EPS. As a group, equities analysts predict that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is 33.26%.

Analyst Ratings Changes

WFC has been the topic of a number of research analyst reports. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research note on Tuesday, October 8th. Piper Sandler increased their price target on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Tuesday, September 3rd. Finally, Citigroup increased their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Thirteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus target price of $63.07.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.