Catalyst Funds Management Pty Ltd Has $5.84 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Catalyst Funds Management Pty Ltd grew its holdings in Wells Fargo & Company (NYSE:WFC) by 102.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,100 shares of the financial services provider’s stock after acquiring an additional 42,000 shares during the period. Wells Fargo & Company accounts for approximately 1.4% of Catalyst Funds Management Pty Ltd’s holdings, making the stock its 11th largest position. Catalyst Funds Management Pty Ltd’s holdings in Wells Fargo & Company were worth $5,837,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Nordea Investment Management AB increased its position in Wells Fargo & Company by 10.1% during the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock worth $441,983,000 after buying an additional 575,892 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after acquiring an additional 5,237,500 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Wells Fargo & Company by 158.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock valued at $153,069,000 after acquiring an additional 1,659,716 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Wells Fargo & Company by 81.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider’s stock valued at $111,914,000 after acquiring an additional 889,953 shares in the last quarter. Finally, KBC Group NV lifted its holdings in Wells Fargo & Company by 63.1% in the 4th quarter. KBC Group NV now owns 1,962,302 shares of the financial services provider’s stock worth $137,832,000 after purchasing an additional 758,893 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $70.96 on Friday. The company has a market capitalization of $233.31 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.18 and a beta of 1.16. The company has a 50-day moving average of $75.89 and a 200-day moving average of $68.84. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. 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 (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the previous year, the business earned $0.86 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.25%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of recent analyst reports. Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Thursday. Keefe, Bruyette & Woods lifted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Truist Financial upped their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. UBS Group lifted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Morgan Stanley increased their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $74.39.

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.