Stonnington Group LLC reduced its stake in shares of Wells Fargo & Company (NYSE: WFC) by 9.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,365 shares of the financial services provider’s stock after selling 1,525 shares during the quarter. Stonnington Group LLC’s holdings in Wells Fargo & Company were worth $ 758,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Stratos Wealth Partners LTD. raised its stake in shares of Wells Fargo & Company by 7.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 75,246 shares of the financial services provider’s stock valued at $ 3,610,000 after purchasing an additional 5,248 shares in the last quarter. Dynamic Advisor Solutions LLC grew its holdings in Wells Fargo & Company by 10.0% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 13,645 shares of the financial services provider’s stock worth $ 655,000 after acquiring an additional 1,244 shares during the period. Weiss Multi Strategy Advisers LLC grew its holdings in Wells Fargo & Company by 56.7% during the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 996,217 shares of the financial services provider’s stock worth $ 47,798,000 after acquiring an additional 360,635 shares during the period. Salem Investment Counselors Inc. grew its holdings in Wells Fargo & Company by 1.6% during the fourth quarter. Salem Investment Counselors Inc. now owns 20,651 shares of the financial services provider’s stock worth $ 991,000 after acquiring an additional 321 shares during the period. Finally, OPSEU Pension Plan Trust Fund grew its holdings in Wells Fargo & Company by 13.1% during the fourth quarter. OPSEU Pension Plan Trust Fund now owns 106,748 shares of the financial services provider’s stock worth $ 5,571,000 after acquiring an additional 12,367 shares during the period. Institutional investors and hedge funds own 74.01% of the company stock.
In other news, EVP BF Goodrich g-Grip 22,700 shares of Wells Fargo & Company stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $ 44.44, for a total transaction of $ 1,008,788.00. Following the completion of the sale, the executive vice president now directly owns 21,478 shares in the company, valued at approximately $ 954,482.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.05% of the stock is owned by insiders.
Shares of Wells Fargo & Company stock opened at $ 38.60 on Thursday. The firm has a market cap of $ 146.31 billion, a price-to-earnings ratio of 8.02, a P / E / G ratio of 0.93 and a beta of 1.13. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.80 and a quick ratio of 0.79. Wells Fargo & Company has a 52-week low of $ 36.54 and a 52-week high of $ 60.30. The stock has a 50-day simple moving average of $ 43.55 and a 200-day simple moving average of $ 49.10.
Wells Fargo & Company (NYSE: WFC – Get Rating) last announced its quarterly earnings results on Thursday, April 14th. The financial services provider reported $ 0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 0.81 by $ 0.07. The business had revenue of $ 17.59 billion during the quarter, compared to analyst estimates of $ 17.82 billion. Wells Fargo & Company had a return on equity of 12.20% and a net margin of 25.35%. The firm’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $ 1.05 EPS. As a group, equities research analysts predict that Wells Fargo & Company will post 4.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 6th were issued a dividend of $ 0.25 per share. The ex-dividend date was Thursday, May 5th. This represents a $ 1.00 annualized dividend and a dividend yield of 2.59%. Wells Fargo & Company’s dividend payout ratio is 20.79%.
A number of research firms recently issued reports on WFC. Barclays lifted their target price on Wells Fargo & Company from $ 62.00 to $ 64.00 in a report on Monday, April 18th. Morgan Stanley dropped their price target on Wells Fargo & Company from $ 72.00 to $ 66.00 and set an “overweight” rating on the stock in a research note on Monday, March 28th. BMO Capital Markets dropped their price target on Wells Fargo & Company from $ 64.00 to $ 60.00 and set a “market perform” rating on the stock in a research note on Monday, April 18th. Citigroup raised Wells Fargo & Company from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $ 58.00 to $ 56.00 in a research note on Monday, April 11th. Finally, Raymond James dropped their price target on Wells Fargo & Company from $ 65.00 to $ 60.00 and set an “outperform” rating on the stock in a research note on Monday, April 18th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average target price of $ 57.62.
Wells Fargo & Company Company Profile: (Get Rating)
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
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