Foster Group Inc. Lowers Position in Wells Fargo & Company (NYSE:WFC)

Foster Group Inc. lessened its holdings in Wells Fargo & Company (NYSE:WFC) by 8.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,422 shares of the financial services provider’s stock after selling 3,740 shares during the quarter. Foster Group Inc.’s holdings in Wells Fargo & Company were worth $2,769,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in WFC. Mattson Financial Services LLC purchased a new position in shares of Wells Fargo & Company in the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at $26,000. Truvestments Capital LLC purchased a new position in shares of Wells Fargo & Company in the third quarter valued at about $29,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $30,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter worth $32,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Citigroup upped their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods increased their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. The Goldman Sachs Group upped their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their target price for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Finally, Compass Point raised their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Trading Up 0.1 %

Shares of WFC stock opened at $77.99 on Wednesday. The stock has a 50 day simple moving average of $73.26 and a 200-day simple moving average of $64.23. Wells Fargo & Company has a 1-year low of $47.45 and a 1-year high of $78.30. The company has a market cap of $259.66 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 1.17 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 earnings per share. On average, equities research analysts expect that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.05%. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

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.