Wells Fargo & Company (NYSE:WFC) Shares Sold by Ellenbecker Investment Group

Ellenbecker Investment Group cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 11.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,925 shares of the financial services provider’s stock after selling 493 shares during the quarter. Ellenbecker Investment Group’s holdings in Wells Fargo & Company were worth $276,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Prosperity Consulting Group LLC raised its holdings in Wells Fargo & Company by 7.5% in the second quarter. Prosperity Consulting Group LLC now owns 4,993 shares of the financial services provider’s stock valued at $297,000 after buying an additional 349 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Wells Fargo & Company in the second quarter worth $225,000. Rathbones Group PLC raised its stake in shares of Wells Fargo & Company by 1.6% in the 2nd quarter. Rathbones Group PLC now owns 109,885 shares of the financial services provider’s stock valued at $6,526,000 after acquiring an additional 1,762 shares during the period. Marble Harbor Investment Counsel LLC lifted its holdings in shares of Wells Fargo & Company by 1.2% during the 2nd quarter. Marble Harbor Investment Counsel LLC now owns 125,168 shares of the financial services provider’s stock valued at $7,434,000 after acquiring an additional 1,479 shares in the last quarter. Finally, Waycross Partners LLC boosted its position in Wells Fargo & Company by 12.4% during the 2nd quarter. Waycross Partners LLC now owns 282,039 shares of the financial services provider’s stock worth $16,750,000 after purchasing an additional 31,033 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $70.59 on Tuesday. The stock has a market capitalization of $235.03 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18. The business’s fifty day moving average price is $72.27 and its 200 day moving average price is $63.07. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. Wells Fargo & Company has a 12-month low of $46.12 and a 12-month high of $78.13.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same period last year, the firm posted $1.39 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities research analysts forecast that Wells Fargo & Company will post 5.43 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were issued a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.27%. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

Analyst Ratings Changes

WFC has been the topic of a number of recent research reports. Truist Financial started coverage on Wells Fargo & Company in a research note on Tuesday, January 7th. They set a “buy” rating and a $82.00 price objective on the stock. Morgan Stanley reduced their price target on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday, September 30th. 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 report on Tuesday, December 10th. Citigroup boosted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Finally, Evercore ISI raised their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average target price of $69.92.

Insider Buying and Selling at Wells Fargo & Company

In related news, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value of $3,822,000.00. Following the sale, the executive vice president now owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This trade represents a 26.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.08% of the stock is currently owned by insiders.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.