Public Sector Pension Investment Board Has $64.81 Million Position in Wells Fargo & Company (NYSE:WFC)

Public Sector Pension Investment Board raised its holdings in Wells Fargo & Company (NYSE:WFC) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,091,177 shares of the financial services provider’s stock after buying an additional 24,298 shares during the quarter. Public Sector Pension Investment Board’s holdings in Wells Fargo & Company were worth $64,805,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in WFC. Capital World Investors increased its stake in Wells Fargo & Company by 1.0% in the fourth quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock valued at $1,295,459,000 after acquiring an additional 263,176 shares during the period. Sanders Capital LLC grew its stake in shares of Wells Fargo & Company by 3.2% in the 4th quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock valued at $1,241,231,000 after purchasing an additional 781,772 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Wells Fargo & Company by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock worth $1,178,591,000 after buying an additional 831,975 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Wells Fargo & Company by 0.4% in the 4th quarter. California State Teachers Retirement System now owns 5,905,934 shares of the financial services provider’s stock worth $290,690,000 after buying an additional 25,896 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its position in shares of Wells Fargo & Company by 67.1% during the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock worth $339,226,000 after buying an additional 2,349,595 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $56.29 on Monday. The firm has a market cap of $196.24 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 1.27 and a beta of 1.16. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The stock has a 50-day moving average price of $56.19 and a 200 day moving average price of $57.90.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The company had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. Research analysts expect that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a dividend of $0.40 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.84%. Wells Fargo & Company’s payout ratio is presently 32.85%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on WFC shares. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, September 3rd. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and lowered their target price for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. The Goldman Sachs Group decreased their price objective on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, BMO Capital Markets lifted their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Twelve research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $60.29.

About Wells Fargo & Company

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.