Teacher Retirement System of Texas Grows Position in Wells Fargo & Company $WFC

Teacher Retirement System of Texas lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 14.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,208,781 shares of the financial services provider’s stock after buying an additional 148,317 shares during the period. Teacher Retirement System of Texas’ holdings in Wells Fargo & Company were worth $112,658,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Redmont Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the third quarter valued at $27,000. Marquette Asset Management LLC boosted its position in shares of Wells Fargo & Company by 472.4% during the third quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock valued at $28,000 after buying an additional 274 shares during the last quarter. Grey Fox Wealth Advisors LLC purchased a new stake in Wells Fargo & Company during the third quarter valued at $30,000. Imprint Wealth LLC purchased a new stake in Wells Fargo & Company during the third quarter valued at $31,000. Finally, Main Street Group LTD increased its position in Wells Fargo & Company by 36.9% during the third quarter. Main Street Group LTD now owns 438 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 118 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Bridget E. Engle sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the completion of the sale, the executive vice president owned 83,478 shares of the company’s stock, valued at approximately $7,270,933.80. The trade was a 26.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kleber Santos sold 25,000 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $87.72, for a total value of $2,193,000.00. Following the sale, the executive vice president directly owned 79,876 shares of the company’s stock, valued at $7,006,722.72. This represents a 23.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 115,000 shares of company stock valued at $10,050,000. Company insiders own 0.14% of the company’s stock.

Wells Fargo & Company Stock Down 1.2%

Wells Fargo & Company stock opened at $80.55 on Thursday. The stock has a fifty day moving average of $81.60 and a 200 day moving average of $86.14. Wells Fargo & Company has a one year low of $67.43 and a one year high of $97.76. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market cap of $248.55 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 0.96 and a beta of 1.06.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.02. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The business had revenue of $21.45 billion during the quarter, compared to analyst estimates of $21.85 billion. During the same quarter in the previous year, the company posted $1.39 earnings per share. Wells Fargo & Company’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, sell-side analysts predict that Wells Fargo & Company will post 6.82 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Shareholders of record on Friday, February 6th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, February 6th. Wells Fargo & Company’s payout ratio is currently 27.78%.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of research reports. Morgan Stanley reduced their price objective on Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. UBS Group reiterated a “buy” rating and set a $113.00 price objective on shares of Wells Fargo & Company in a research report on Wednesday, February 4th. Piper Sandler reiterated an “overweight” rating and set a $94.00 price objective (down from $100.00) on shares of Wells Fargo & Company in a research report on Wednesday, April 15th. HSBC upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Wednesday, April 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and an average target price of $97.75.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.