iA Global Asset Management Inc. Has $29.89 Million Stake in Wells Fargo & Company (NYSE:WFC)

iA Global Asset Management Inc. boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 860.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 425,467 shares of the financial services provider’s stock after buying an additional 381,149 shares during the period. iA Global Asset Management Inc.’s holdings in Wells Fargo & Company were worth $29,885,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC increased its position in Wells Fargo & Company by 19.1% during the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock worth $13,369,000 after buying an additional 30,510 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in Wells Fargo & Company by 37.2% during the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock worth $36,055,000 after buying an additional 173,083 shares during the last quarter. Atlantic Union Bankshares Corp increased its position in Wells Fargo & Company by 17.4% during the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock worth $10,031,000 after buying an additional 26,320 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Wells Fargo & Company by 14.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider’s stock valued at $58,055,000 after purchasing an additional 131,322 shares during the last quarter. Finally, Valmark Advisers Inc. grew its position in shares of Wells Fargo & Company by 5.5% in the fourth quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider’s stock valued at $583,000 after purchasing an additional 431 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 2.4 %

Shares of WFC opened at $72.79 on Thursday. The stock has a market cap of $239.35 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company has a 50-day moving average price of $75.88 and a two-hundred day moving average price of $69.22.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 earnings per share. Equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WFC. Barclays raised their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Truist Financial raised their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group raised their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, UBS Group raised their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.39.

Wells Fargo & Company Company Profile

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.