AssuredPartners Investment Advisors LLC Acquires Shares of 5,012 Wells Fargo & Company (NYSE:WFC)

AssuredPartners Investment Advisors LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,012 shares of the financial services provider’s stock, valued at approximately $352,000.

Several other large investors have also modified their holdings of the company. Spinnaker Trust raised its position in Wells Fargo & Company by 1.8% in the 4th quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock valued at $520,000 after purchasing an additional 130 shares during the last quarter. MONECO Advisors LLC raised its holdings in shares of Wells Fargo & Company by 1.9% in the fourth quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock valued at $493,000 after buying an additional 134 shares during the last quarter. Crown Wealth Group LLC boosted its stake in shares of Wells Fargo & Company by 2.2% during the fourth quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock worth $467,000 after buying an additional 140 shares during the period. Jacobsen Capital Management boosted its stake in shares of Wells Fargo & Company by 2.8% during the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock worth $381,000 after buying an additional 148 shares during the period. Finally, New Republic Capital LLC grew its holdings in shares of Wells Fargo & Company by 2.9% during the fourth quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock worth $369,000 after buying an additional 149 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Down 2.2 %

Shares of WFC stock opened at $70.71 on Friday. The stock has a market cap of $230.87 billion, a P/E ratio of 13.14, 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 fifty-two week low of $50.15 and a fifty-two week high of $81.50. The business has a fifty day simple moving average of $75.84 and a 200-day simple moving average of $69.92.

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

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid 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%.

Analysts Set New Price Targets

A number of analysts have weighed in on WFC shares. Citigroup decreased their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Compass Point boosted 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. Piper Sandler raised their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, The Goldman Sachs Group boosted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average target price of $74.97.

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.