Xponance Inc. Cuts Holdings in Wells Fargo & Company (NYSE:WFC)

Xponance Inc. decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 518,009 shares of the financial services provider’s stock after selling 6,865 shares during the quarter. Xponance Inc.’s holdings in Wells Fargo & Company were worth $36,385,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of WFC. Atlanta Consulting Group Advisors LLC purchased a new position in shares of Wells Fargo & Company in the 3rd quarter valued at about $275,000. Claro Advisors LLC grew its stake in Wells Fargo & Company by 15.6% during the 3rd quarter. Claro Advisors LLC now owns 16,109 shares of the financial services provider’s stock worth $910,000 after buying an additional 2,173 shares during the last quarter. Aljian Capital Management LLC purchased a new position in Wells Fargo & Company during the 3rd quarter worth approximately $513,000. GLOBALT Investments LLC GA purchased a new position in Wells Fargo & Company during the 3rd quarter worth approximately $5,764,000. Finally, Aviso Wealth Management grew its stake in Wells Fargo & Company by 47.8% during the 3rd quarter. Aviso Wealth Management now owns 16,595 shares of the financial services provider’s stock worth $937,000 after buying an additional 5,368 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the subject of a number of recent research reports. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Thursday, March 13th. Citigroup increased their price objective 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. UBS Group increased their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Truist Financial increased their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods increased their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.39.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $70.88 on Tuesday. The company has a market cap of $233.07 billion, a P/E ratio of 13.17, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The business has a fifty day simple moving average of $75.87 and a 200-day simple moving average of $69.11.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter last year, the firm earned $0.86 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 29.74%.

About Wells Fargo & Company

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.