Wells Fargo & Company (NYSE:WFC) Shares Sold by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 13.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,530,044 shares of the financial services provider’s stock after selling 245,305 shares during the quarter. Mawer Investment Management Ltd.’s holdings in Wells Fargo & Company were worth $46,177,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of WFC. FMR LLC increased its stake in shares of Wells Fargo & Company by 28.7% during the fourth quarter. FMR LLC now owns 133,862,824 shares of the financial services provider’s stock valued at $4,039,980,000 after acquiring an additional 29,812,530 shares during the period. Windacre Partnership LLC acquired a new position in Wells Fargo & Company in the third quarter worth approximately $153,445,000. Principal Financial Group Inc. grew its position in Wells Fargo & Company by 85.8% in the fourth quarter. Principal Financial Group Inc. now owns 11,736,440 shares of the financial services provider’s stock worth $354,206,000 after buying an additional 5,419,945 shares during the last quarter. Pzena Investment Management LLC grew its position in Wells Fargo & Company by 34.8% in the third quarter. Pzena Investment Management LLC now owns 18,439,768 shares of the financial services provider’s stock worth $433,519,000 after buying an additional 4,760,961 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in Wells Fargo & Company by 17.2% in the fourth quarter. Alliancebernstein L.P. now owns 32,020,367 shares of the financial services provider’s stock worth $966,375,000 after buying an additional 4,690,461 shares during the last quarter. Institutional investors and hedge funds own 67.25% of the company’s stock.

Shares of NYSE:WFC traded down $0.24 during trading on Tuesday, reaching $37.02. 1,139,577 shares of the company traded hands, compared to its average volume of 38,163,500. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 1.34. Wells Fargo & Company has a 1-year low of $20.76 and a 1-year high of $46.95. The firm has a fifty day simple moving average of $32.83 and a 200 day simple moving average of $27.29. The firm has a market cap of $153.06 billion, a P/E ratio of 100.70, a price-to-earnings-growth ratio of 4.84 and a beta of 1.07.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Thursday, January 14th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.04. Wells Fargo & Company had a net margin of 3.72% and a return on equity of 3.18%. The business had revenue of $17.93 billion during the quarter, compared to analyst estimates of $18 billion. During the same quarter in the previous year, the business earned $0.93 EPS. Wells Fargo & Company’s quarterly revenue was down 9.7% compared to the same quarter last year. As a group, research analysts anticipate that Wells Fargo & Company will post 0.48 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 1st. Investors of record on Friday, February 5th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, February 4th. Wells Fargo & Company’s payout ratio is presently 9.13%.

WFC has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their price target on shares of Wells Fargo & Company from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, January 18th. Piper Sandler lifted their price target on shares of Wells Fargo & Company from $25.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, December 21st. TheStreet upgraded shares of Wells Fargo & Company from a “c” rating to a “b-” rating in a research report on Friday, January 15th. Oppenheimer restated a “hold” rating on shares of Wells Fargo & Company in a research report on Tuesday, January 19th. Finally, Zacks Investment Research upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Thursday, January 21st. Eleven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $33.80.

About Wells Fargo & Company

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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

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