Cullinan Associates Inc. Acquires 220 Shares of Wells Fargo & Company $WFC

Cullinan Associates Inc. lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 0.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,166 shares of the financial services provider’s stock after acquiring an additional 220 shares during the period. Cullinan Associates Inc.’s holdings in Wells Fargo & Company were worth $3,458,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Wells Fargo & Company by 2,735,254.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after acquiring an additional 949,735,001 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Wells Fargo & Company by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider’s stock worth $1,471,259,000 after purchasing an additional 128,207 shares during the period. Massachusetts Financial Services Co. MA raised its position in Wells Fargo & Company by 277.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock worth $771,092,000 after purchasing an additional 7,894,919 shares during the period. Boston Partners raised its position in Wells Fargo & Company by 6.2% in the 1st quarter. Boston Partners now owns 8,953,009 shares of the financial services provider’s stock worth $640,616,000 after purchasing an additional 523,107 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Wells Fargo & Company by 10.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,009,440 shares of the financial services provider’s stock worth $431,418,000 after purchasing an additional 544,473 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Dbs Bank raised shares of Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Truist Financial increased their price objective on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Citigroup increased their price objective on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Finally, Evercore ISI increased their price objective on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.74.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $80.63 on Monday. The firm has a market cap of $258.28 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.24 and a beta of 1.25. The firm’s 50 day simple moving average is $80.77 and its 200-day simple moving average is $76.33. Wells Fargo & Company has a one year low of $55.98 and a one year high of $86.65. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. The business had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the company posted $1.33 earnings per share. As a group, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio is 30.82%.

Wells Fargo & Company 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.