LMR Partners LLP Purchases 70,804 Shares of Wells Fargo & Co (NYSE:WFC)

LMR Partners LLP grew its position in shares of Wells Fargo & Co (NYSE:WFC) by 223.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 102,456 shares of the financial services provider’s stock after acquiring an additional 70,804 shares during the quarter. LMR Partners LLP’s holdings in Wells Fargo & Co were worth $5,512,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WFC. Capital Square LLC acquired a new position in Wells Fargo & Co in the 4th quarter valued at $3,059,000. Amalgamated Bank raised its holdings in shares of Wells Fargo & Co by 3.2% during the 4th quarter. Amalgamated Bank now owns 579,577 shares of the financial services provider’s stock worth $31,181,000 after acquiring an additional 18,050 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Wells Fargo & Co by 264.5% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 10,660,597 shares of the financial services provider’s stock worth $573,541,000 after acquiring an additional 7,736,141 shares in the last quarter. Montecito Bank & Trust raised its holdings in shares of Wells Fargo & Co by 2.0% during the 4th quarter. Montecito Bank & Trust now owns 22,245 shares of the financial services provider’s stock worth $1,197,000 after acquiring an additional 444 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. raised its holdings in shares of Wells Fargo & Co by 32.2% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 15,429 shares of the financial services provider’s stock worth $830,000 after acquiring an additional 3,758 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

WFC traded up $0.77 during midday trading on Wednesday, reaching $29.69. 32,395,991 shares of the company’s stock were exchanged, compared to its average volume of 51,149,164. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.87 and a quick ratio of 0.85. The stock has a market capitalization of $103.26 billion, a PE ratio of 7.39, a P/E/G ratio of 0.63 and a beta of 1.14. The business’s 50-day moving average price is $40.36 and its 200 day moving average price is $48.57. Wells Fargo & Co has a 1-year low of $25.10 and a 1-year high of $54.75.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings data on Tuesday, January 14th. The financial services provider reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.17). The firm had revenue of $19.86 billion during the quarter, compared to analyst estimates of $20.11 billion. Wells Fargo & Co had a net margin of 18.81% and a return on equity of 12.11%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. As a group, analysts expect that Wells Fargo & Co will post 3.77 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Friday, February 7th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $2.04 annualized dividend and a dividend yield of 6.87%. Wells Fargo & Co’s dividend payout ratio is 46.58%.

A number of brokerages recently issued reports on WFC. BMO Capital Markets reissued a “market perform” rating and set a $53.00 price target on shares of Wells Fargo & Co in a report on Wednesday, January 15th. Atlantic Securities raised shares of Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $44.00 price target on the stock in a report on Friday, February 28th. Piper Sandler downgraded shares of Wells Fargo & Co from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $60.00 to $52.00 in a report on Wednesday, January 15th. Raymond James downgraded shares of Wells Fargo & Co from a “market perform” rating to an “underperform” rating in a report on Monday, December 2nd. Finally, Zacks Investment Research raised shares of Wells Fargo & Co from a “strong sell” rating to a “hold” rating and set a $23.00 price target on the stock in a report on Tuesday, March 17th. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.34.

In other Wells Fargo & Co news, Director Charles H. Noski purchased 20,000 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were acquired at an average price of $29.53 per share, for a total transaction of $590,600.00. Following the acquisition, the director now owns 74 shares of the company’s stock, valued at $2,185.22. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles W. Scharf acquired 173,000 shares of Wells Fargo & Co stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average cost of $28.69 per share, with a total value of $4,963,370.00. Following the purchase, the chief executive officer now owns 176,916 shares in the company, valued at approximately $5,075,720.04. The disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.

About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

See Also: Gross Domestic Product (GDP)

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

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