531,798 Shares in Wells Fargo & Company (NYSE:WFC) Acquired by Bridgewater Associates LP

Bridgewater Associates LP bought a new position in Wells Fargo & Company (NYSE:WFCFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 531,798 shares of the financial services provider’s stock, valued at approximately $26,175,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Financial Corp IN raised its position in Wells Fargo & Company by 4.9% in the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 214 shares during the period. CX Institutional raised its position in Wells Fargo & Company by 1.1% in the fourth quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock worth $998,000 after acquiring an additional 217 shares during the period. Cape Investment Advisory Inc. raised its position in Wells Fargo & Company by 3.4% in the fourth quarter. Cape Investment Advisory Inc. now owns 6,746 shares of the financial services provider’s stock worth $332,000 after acquiring an additional 219 shares during the period. Cassaday & Co Wealth Management LLC raised its position in Wells Fargo & Company by 4.1% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 5,645 shares of the financial services provider’s stock worth $278,000 after acquiring an additional 224 shares during the period. Finally, ERTS Wealth Advisors LLC raised its position in Wells Fargo & Company by 3.5% in the fourth quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock worth $331,000 after acquiring an additional 228 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC traded down $1.01 on Tuesday, reaching $56.92. The company’s stock had a trading volume of 1,518,142 shares, compared to its average volume of 17,935,691. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The company has a market cap of $198.44 billion, a P/E ratio of 12.02, a PEG ratio of 1.54 and a beta of 1.17. The company has a 50-day simple moving average of $59.37 and a 200 day simple moving average of $53.86. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87.

Wells Fargo & Company (NYSE:WFCGet Free Report) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same period last year, the company posted $1.23 EPS. The business’s revenue was up .6% on a year-over-year basis. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.08 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.46%. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.

Analysts Set New Price Targets

WFC has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price target on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Evercore ISI raised their price objective on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Jefferies Financial Group raised their price objective on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Fourteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus target price of $58.99.

Check Out Our Latest Report on WFC

Wells Fargo & Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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