Wells Fargo & Company (NYSE:WFC) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 17.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 349,566 shares of the financial services provider’s stock after acquiring an additional 52,858 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Wells Fargo & Company were worth $23,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in WFC. Truvestments Capital LLC bought a new position in Wells Fargo & Company during the 3rd quarter worth $29,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at $30,000. Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter worth about $32,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter worth about $34,000. Finally, FSA Wealth Management LLC bought a new stake in Wells Fargo & Company in the 3rd quarter valued at about $34,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.7 %

Wells Fargo & Company stock opened at $80.07 on Thursday. The firm’s 50 day moving average price is $73.66 and its two-hundred day moving average price is $65.06. The firm has a market cap of $266.58 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $80.35.

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, beating the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. On average, research analysts predict that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.00%. Wells Fargo & Company’s dividend payout ratio is 29.74%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley upped their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Evercore ISI increased their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price target for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Finally, The Goldman Sachs Group lifted their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & 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.