Hikari Power Ltd Has $9.94 Million Stock Holdings in Wells Fargo & Company $WFC

Hikari Power Ltd lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 5.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 124,000 shares of the financial services provider’s stock after selling 6,460 shares during the period. Wells Fargo & Company makes up about 0.8% of Hikari Power Ltd’s holdings, making the stock its 20th biggest position. Hikari Power Ltd’s holdings in Wells Fargo & Company were worth $9,935,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in WFC. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Wells Fargo & Company by 2,735,254.3% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after purchasing an additional 949,735,001 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Wells Fargo & Company by 277.4% during the first 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. Strs Ohio acquired a new stake in Wells Fargo & Company during the first quarter worth approximately $109,643,000. Canada Pension Plan Investment Board grew its stake in Wells Fargo & Company by 34.6% during the first quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock worth $381,016,000 after purchasing an additional 1,365,629 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Wells Fargo & Company by 30.5% during the first quarter. Principal Financial Group Inc. now owns 4,926,423 shares of the financial services provider’s stock worth $353,668,000 after purchasing an additional 1,152,181 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the subject of several recent analyst reports. Evercore ISI raised their target price on Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. The Goldman Sachs Group reduced their price objective on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods raised their price objective on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, October 15th. Truist Financial raised their price objective on Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, Raymond James Financial cut Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Eleven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Stock Up 2.2%

WFC stock opened at $86.35 on Monday. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $87.47. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. The stock’s 50 day moving average is $81.89 and its 200-day moving average is $77.80. The firm has a market capitalization of $276.61 billion, a PE ratio of 14.20, a P/E/G ratio of 1.19 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. During the same quarter last year, the company earned $1.42 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio is 29.61%.

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.