Mackenzie Financial Corp Grows Position in Wells Fargo & Company (NYSE:WFC)

Mackenzie Financial Corp increased its position in Wells Fargo & Company (NYSE:WFC) by 34.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,690,924 shares of the financial services provider’s stock after purchasing an additional 433,292 shares during the quarter. Mackenzie Financial Corp’s holdings in Wells Fargo & Company were worth $83,227,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Wells Fargo & Company during the 4th quarter valued at approximately $2,049,693,000. Moneta Group Investment Advisors LLC increased its position in Wells Fargo & Company by 129,312.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock valued at $1,085,410,000 after buying an additional 26,267,166 shares in the last quarter. Renaissance Technologies LLC increased its position in Wells Fargo & Company by 1,478.6% during the 1st quarter. Renaissance Technologies LLC now owns 8,390,611 shares of the financial services provider’s stock valued at $406,609,000 after buying an additional 7,859,100 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new position in Wells Fargo & Company during the 1st quarter valued at approximately $345,861,000. Finally, Imprint Wealth LLC increased its position in Wells Fargo & Company by 4,238.0% during the 2nd quarter. Imprint Wealth LLC now owns 4,284,901 shares of the financial services provider’s stock valued at $428,490,000 after buying an additional 4,186,124 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on WFC shares. Morgan Stanley lifted their target price on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday. Raymond James lifted their price objective on Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 16th. Piper Sandler cut their price objective on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday, January 16th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $62.00 price objective (up previously from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a report on Monday. Thirteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Trading Up 0.2 %

Shares of Wells Fargo & Company stock opened at $57.10 on Tuesday. The firm has a market capitalization of $202.16 billion, a PE ratio of 11.89, a P/E/G ratio of 1.18 and a beta of 1.19. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $58.44. The firm’s 50-day moving average price is $55.08 and its 200 day moving average price is $48.44. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share 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 for the quarter, compared to analyst estimates 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. On average, sell-side analysts predict that Wells Fargo & Company will post 4.68 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.45%. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Wells Fargo & Company Profile

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.