CFO4Life Group LLC Increases Stake in Wells Fargo & Company (NYSE:WFC)

CFO4Life Group LLC grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 49.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,174 shares of the financial services provider’s stock after buying an additional 3,042 shares during the quarter. CFO4Life Group LLC’s holdings in Wells Fargo & Company were worth $644,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Balboa Wealth Partners purchased a new position in Wells Fargo & Company during the 4th quarter worth $301,000. HBK Sorce Advisory LLC grew its stake in shares of Wells Fargo & Company by 15.1% during the 4th quarter. HBK Sorce Advisory LLC now owns 22,926 shares of the financial services provider’s stock worth $1,610,000 after purchasing an additional 3,002 shares during the period. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Wells Fargo & Company by 8.9% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 771,917 shares of the financial services provider’s stock worth $54,297,000 after purchasing an additional 63,200 shares during the period. Tredje AP fonden grew its stake in shares of Wells Fargo & Company by 24.1% during the 4th quarter. Tredje AP fonden now owns 1,906,244 shares of the financial services provider’s stock worth $133,895,000 after purchasing an additional 369,820 shares during the period. Finally, Rakuten Securities Inc. grew its stake in shares of Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on WFC shares. Piper Sandler increased their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group increased their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Compass Point increased their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Barclays increased their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Trading Up 2.5 %

Shares of WFC stock opened at $68.98 on Thursday. The firm has a market cap of $226.83 billion, a P/E ratio of 12.82, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. 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 firm’s 50-day simple moving average is $75.94 and its 200-day simple moving average is $68.74.

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

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.32%. Wells Fargo & Company’s payout ratio is currently 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.