Wells Fargo & Company (NYSE:WFC) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd (2023)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Wells Fargo & Company (NYSE:WFC) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297,566 shares of the financial services provider's stock after acquiring an additional 17,182 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Wells Fargo & Company were worth $12,286,000 as of its most recent SEC filing.

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Risk-Free Money Market vs. Bank Dividend Stock, Which is Better?

Several other institutional investors also recently bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. grew its position in Wells Fargo & Company by 11.2% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 62,543 shares of the financial services provider's stock valued at $2,582,000 after acquiring an additional 6,319 shares in the last quarter. Boenning & Scattergood Inc. grew its position in Wells Fargo & Company by 2.1% in the 4th quarter. Boenning & Scattergood Inc. now owns 108,757 shares of the financial services provider's stock valued at $5,270,000 after acquiring an additional 2,228 shares in the last quarter. Riverview Trust Co grew its position in Wells Fargo & Company by 122.8% in the 4th quarter. Riverview Trust Co now owns 3,974 shares of the financial services provider's stock valued at $164,000 after acquiring an additional 2,190 shares in the last quarter. Cyndeo Wealth Partners LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $310,000. Finally, Clarius Group LLC grew its position in shares of Wells Fargo & Company by 2.1% during the fourth quarter. Clarius Group LLC now owns 29,920 shares of the financial services provider's stock worth $1,235,000 after buying an additional 625 shares in the last quarter. 72.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Wells Fargo & Company

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In other news, EVP Kleber Santos sold 34,698 shares of the company's stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $46.27, for a total transaction of $1,605,476.46. Following the completion of the sale, the executive vice president now owns 19,590 shares in the company, valued at $906,429.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is owned by company insiders.

Wells Fargo & Company Stock Performance

Wells Fargo Drift Lower After Q2 Earnings

NYSE WFC traded down $1.18 on Tuesday, reaching $36.54. The stock had a trading volume of 11,244,120 shares, compared to its average volume of 23,052,877. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.84 and a current ratio of 0.84. Wells Fargo & Company has a 12-month low of $35.25 and a 12-month high of $50.19. The business's 50-day moving average price is $43.68 and its 200 day moving average price is $43.71. The stock has a market cap of $138.01 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 0.77 and a beta of 1.12.

Wells Fargo & Company (NYSE:WFC - Get Rating) last issued its quarterly earnings data on Friday, January 13th. The financial services provider reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.04. Wells Fargo & Company had a return on equity of 9.28% and a net margin of 15.91%. The company had revenue of $19.66 billion during the quarter, compared to analysts' expectations of $20.04 billion. During the same quarter in the previous year, the business earned $1.38 earnings per share. The firm's revenue for the quarter was down 5.7% on a year-over-year basis. As a group, equities analysts expect that Wells Fargo & Company will post 4.76 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The Buying Case For Wells Fargo is Getting Stretched

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 3rd were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date was Thursday, February 2nd. Wells Fargo & Company's dividend payout ratio is currently 38.22%.

Wall Street Analyst Weigh In

WFC has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered their price objective on Wells Fargo & Company from $60.00 to $50.00 in a research report on Friday, January 6th. Odeon Capital Group downgraded Wells Fargo & Company from a "buy" rating to a "hold" rating in a research report on Monday, March 13th. Piper Sandler downgraded Wells Fargo & Company from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $49.00 to $47.00 in a research report on Tuesday, January 17th. StockNews.com initiated coverage on Wells Fargo & Company in a research report on Thursday, March 16th. They set a "hold" rating for the company. Finally, Morgan Stanley decreased their target price on Wells Fargo & Company from $60.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, December 15th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $51.88.

About Wells Fargo & Company

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Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage products and services, and consumer and commercial finance. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management.