Picton Mahoney Asset Management Has $6.93 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Picton Mahoney Asset Management lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 140,810 shares of the financial services provider’s stock after acquiring an additional 1,810 shares during the period. Picton Mahoney Asset Management’s holdings in Wells Fargo & Company were worth $6,930,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of WFC. LSV Asset Management grew its position in shares of Wells Fargo & Company by 40.4% during the 4th quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider’s stock worth $458,162,000 after purchasing an additional 2,677,050 shares in the last quarter. Panagora Asset Management Inc. grew its position in Wells Fargo & Company by 131.0% during the third quarter. Panagora Asset Management Inc. now owns 3,453,854 shares of the financial services provider’s stock worth $141,124,000 after buying an additional 1,958,483 shares in the last quarter. Nordea Investment Management AB increased its stake in Wells Fargo & Company by 42.7% during the 4th quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock worth $285,668,000 after acquiring an additional 1,729,132 shares during the period. Artemis Investment Management LLP raised its holdings in Wells Fargo & Company by 87.8% in the 4th quarter. Artemis Investment Management LLP now owns 3,314,853 shares of the financial services provider’s stock valued at $163,160,000 after acquiring an additional 1,549,979 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at $54,894,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 1.6 %

NYSE WFC traded up $0.97 on Wednesday, hitting $61.23. The company’s stock had a trading volume of 18,626,876 shares, compared to its average volume of 18,897,705. The company’s 50-day moving average is $57.86 and its 200 day moving average is $50.62. The firm has a market cap of $213.47 billion, a PE ratio of 12.78, a PEG ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a 1-year low of $37.18 and a 1-year high of $61.76. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. Wells Fargo & Company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.23 earnings per share. As a group, analysts predict that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.29%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WFC shares. Piper Sandler decreased their price target on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 16th. The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Citigroup reiterated a “neutral” rating and set a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Argus upped their target price on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Finally, Compass Point reiterated a “neutral” rating and issued a $64.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Fourteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $58.99.

Wells Fargo & Company 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.