Caisse DE Depot ET Placement DU Quebec Purchases 909,532 Shares of Wells Fargo & Company (NYSE:WFC)

Caisse DE Depot ET Placement DU Quebec increased its position in Wells Fargo & Company (NYSE:WFC) by 33.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,619,191 shares of the financial services provider’s stock after acquiring an additional 909,532 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.11% of Wells Fargo & Company worth $254,212,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of WFC. Rialto Wealth Management LLC acquired a new position in Wells Fargo & Company in the fourth quarter worth about $26,000. Investment Counsel Co. of Nevada acquired a new position in Wells Fargo & Company in the fourth quarter worth about $28,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company in the fourth quarter worth about $30,000. McClarren Financial Advisors Inc. acquired a new position in Wells Fargo & Company in the fourth quarter worth about $30,000. Finally, Rakuten Securities Inc. raised its position in Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.0 %

Shares of NYSE:WFC opened at $71.08 on Thursday. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company’s fifty day simple moving average is $69.52 and its 200 day simple moving average is $71.67. The firm has a market cap of $232.09 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. During the same period last year, the business posted $1.20 earnings per share. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. As a group, research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company declared that its Board of Directors has approved a stock repurchase plan on Tuesday, April 29th that authorizes the company to buyback $40.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 17.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 9th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, May 9th. This represents a $1.60 annualized dividend and a yield of 2.25%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 28.73%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WFC. Keefe, Bruyette & Woods raised their price objective 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. Raymond James dropped their price objective on shares of Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating for the company in a report on Monday, April 14th. Phillip Securities raised shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, April 14th. Morgan Stanley raised their price target on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, April 7th. Finally, 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 for the company in a report on Thursday, March 13th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average target price of $75.34.

About Wells Fargo & Company

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.