Wells Fargo & Company (NYSE:WFC) Shares Sold by LGT Group Foundation

LGT Group Foundation lowered its stake in Wells Fargo & Company (NYSE:WFC) by 36.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,658 shares of the financial services provider’s stock after selling 20,153 shares during the period. LGT Group Foundation’s holdings in Wells Fargo & Company were worth $2,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $30,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $30,000. Decker Retirement Planning Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $35,000. Finally, BankPlus Trust Department acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 1.7 %

Shares of WFC stock opened at $76.96 on Tuesday. The business’s 50 day moving average is $76.00 and its two-hundred day moving average is $68.11. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The company has a market capitalization of $253.06 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same period last year, the business posted $0.86 EPS. The company’s revenue was down .5% on a year-over-year basis. Equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WFC. Morgan Stanley raised their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Compass Point raised their target price 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. Citigroup raised their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Barclays raised their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group raised their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & 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.