Wells Fargo & Company (NYSE:WFC) Shares Bought by FUKOKU MUTUAL LIFE INSURANCE Co

FUKOKU MUTUAL LIFE INSURANCE Co grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 5.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,299 shares of the financial services provider’s stock after acquiring an additional 709 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Wells Fargo & Company were worth $1,004,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Mn Services Vermogensbeheer B.V. increased its stake in shares of Wells Fargo & Company by 2.1% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 1,434,500 shares of the financial services provider’s stock valued at $100,759,000 after acquiring an additional 29,700 shares during the last quarter. Apriem Advisors acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $203,000. Convergence Financial LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $212,000. Nwam LLC increased its position in Wells Fargo & Company by 58.3% during the 4th quarter. Nwam LLC now owns 8,664 shares of the financial services provider’s stock worth $609,000 after purchasing an additional 3,191 shares in the last quarter. Finally, Cable Hill Partners LLC increased its position in Wells Fargo & Company by 41.6% during the 4th quarter. Cable Hill Partners LLC now owns 6,088 shares of the financial services provider’s stock worth $428,000 after purchasing an additional 1,790 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $76.39 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The business’s 50 day moving average is $75.55 and its two-hundred day moving average is $67.51. The company has a market cap of $254.34 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. On average, equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.09%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Citigroup increased their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. UBS Group increased their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Compass Point increased their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group increased their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Evercore ISI increased their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and an average price target of $73.39.

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.