Temasek Holdings Private Ltd Purchases 437,900 Shares of Wells Fargo & Company $WFC

Temasek Holdings Private Ltd grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 40.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,523,823 shares of the financial services provider’s stock after buying an additional 437,900 shares during the quarter. Temasek Holdings Private Ltd’s holdings in Wells Fargo & Company were worth $142,020,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $4,512,563,000. Capital Research Global Investors raised its holdings in shares of Wells Fargo & Company by 4.9% in the 4th quarter. Capital Research Global Investors now owns 37,421,387 shares of the financial services provider’s stock worth $3,487,687,000 after purchasing an additional 1,760,484 shares during the period. Legal & General Group Plc raised its holdings in shares of Wells Fargo & Company by 0.9% in the 4th quarter. Legal & General Group Plc now owns 21,197,423 shares of the financial services provider’s stock worth $1,975,600,000 after purchasing an additional 188,186 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Wells Fargo & Company by 13.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,625,070 shares of the financial services provider’s stock worth $1,922,257,000 after purchasing an additional 2,369,260 shares during the period. Finally, Boston Partners raised its stake in Wells Fargo & Company by 5.2% in the 4th quarter. Boston Partners now owns 9,606,215 shares of the financial services provider’s stock valued at $895,466,000 after acquiring an additional 477,745 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the subject of a number of research reports. Evercore reiterated an “outperform” rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. JPMorgan Chase & Co. cut their target price on shares of Wells Fargo & Company from $91.00 to $86.50 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Truist Financial cut their target price on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “buy” rating for the company in a research report on Tuesday, March 17th. Keefe, Bruyette & Woods lowered their target price on shares of Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating on the stock in a report on Wednesday, April 15th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $97.53.

Wells Fargo & Company Trading Down 0.7%

Shares of WFC stock opened at $83.18 on Tuesday. The company’s fifty day simple moving average is $79.61 and its two-hundred day simple moving average is $84.65. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90. Wells Fargo & Company has a 1 year low of $72.30 and a 1 year high of $97.76. The stock has a market capitalization of $254.56 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 0.98 and a beta of 0.93.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.02. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The business had revenue of $11.62 billion for the quarter, compared to analysts’ expectations of $21.85 billion. During the same quarter in the previous year, the firm posted $1.39 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, analysts anticipate that Wells Fargo & Company will post 6.84 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s payout ratio is 27.78%.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.