Robeco Institutional Asset Management B.V. Sells 70,913 Shares of Wells Fargo & Company (NYSE:WFC)

Robeco Institutional Asset Management B.V. reduced its stake in Wells Fargo & Company (NYSE:WFC) by 15.8% during the 4th quarter, Holdings Channel reports. The fund owned 378,844 shares of the financial services provider’s stock after selling 70,913 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Wells Fargo & Company were worth $26,610,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in WFC. Cardinal Capital Management Inc. raised its stake in Wells Fargo & Company by 2.0% in the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock worth $32,505,000 after purchasing an additional 11,037 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Wells Fargo & Company by 37.2% during the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock worth $36,055,000 after purchasing an additional 173,083 shares during the period. Atlantic Union Bankshares Corp raised its position in shares of Wells Fargo & Company by 17.4% in the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock valued at $10,031,000 after buying an additional 26,320 shares in the last quarter. Chartwell Investment Partners LLC boosted its stake in shares of Wells Fargo & Company by 16.4% in the third quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock valued at $7,504,000 after buying an additional 18,717 shares during the period. Finally, Argus Investors Counsel Inc. grew its position in Wells Fargo & Company by 34.6% during the third quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock worth $1,780,000 after buying an additional 8,107 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research note on Tuesday, October 8th. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their target price for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. UBS Group upped their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Barclays upped their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Up 0.7 %

Shares of NYSE:WFC opened at $78.89 on Friday. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $79.24. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The business’s 50-day moving average is $73.45 and its 200-day moving average is $64.48. The company has a market capitalization of $262.67 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 1.17 and a beta of 1.18.

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

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s payout ratio is 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.