Wells Fargo & Company (NYSE:WFC) Position Trimmed by Wallace Advisory Group LLC

Wallace Advisory Group LLC reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 6.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,948 shares of the financial services provider’s stock after selling 1,104 shares during the quarter. Wallace Advisory Group LLC’s holdings in Wells Fargo & Company were worth $1,190,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Prosperity Consulting Group LLC grew its stake in shares of Wells Fargo & Company by 7.5% in the 2nd quarter. Prosperity Consulting Group LLC now owns 4,993 shares of the financial services provider’s stock valued at $297,000 after buying an additional 349 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Wells Fargo & Company in the second quarter worth approximately $225,000. Rathbones Group PLC raised its holdings in shares of Wells Fargo & Company by 1.6% during the 2nd quarter. Rathbones Group PLC now owns 109,885 shares of the financial services provider’s stock valued at $6,526,000 after purchasing an additional 1,762 shares in the last quarter. Marble Harbor Investment Counsel LLC raised its holdings in shares of Wells Fargo & Company by 1.2% during the 2nd quarter. Marble Harbor Investment Counsel LLC now owns 125,168 shares of the financial services provider’s stock valued at $7,434,000 after purchasing an additional 1,479 shares in the last quarter. Finally, Waycross Partners LLC raised its holdings in shares of Wells Fargo & Company by 12.4% during the 2nd quarter. Waycross Partners LLC now owns 282,039 shares of the financial services provider’s stock valued at $16,750,000 after purchasing an additional 31,033 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on WFC shares. Barclays raised their price target on shares of Wells Fargo & Company from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, January 6th. The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Compass Point raised their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a report on Tuesday, October 8th. Finally, Morgan Stanley cut their price target on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.92.

Insiders Place Their Bets

In other news, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the transaction, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This trade represents a 26.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $70.59 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $235.03 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 1.47 and a beta of 1.18. The company’s fifty day moving average is $72.27 and its two-hundred day moving average is $63.07. Wells Fargo & Company has a 52-week low of $46.12 and a 52-week high of $78.13.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.14. The company had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the business posted $1.39 EPS. Equities research analysts forecast that Wells Fargo & Company will post 5.43 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.27%. Wells Fargo & Company’s dividend payout ratio is 33.26%.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.