Advisory Resource Group Purchases New Position in Wells Fargo & Company (NYSE:WFC)

Advisory Resource Group bought a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,228 shares of the financial services provider's stock, valued at approximately $227,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jacobsen Capital Management lifted its holdings in Wells Fargo & Company by 2.8% in the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider's stock valued at $381,000 after acquiring an additional 148 shares during the last quarter. Quad Cities Investment Group LLC boosted its stake in Wells Fargo & Company by 0.3% in the fourth quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider's stock valued at $3,693,000 after acquiring an additional 158 shares in the last quarter. Investors Research Corp grew its position in Wells Fargo & Company by 1.2% during the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider's stock worth $760,000 after purchasing an additional 160 shares during the last quarter. Ellenbecker Investment Group grew its position in Wells Fargo & Company by 3.9% in the 3rd quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider's stock valued at $250,000 after buying an additional 164 shares during the last quarter. Finally, Income Research & Management purchased a new position in shares of Wells Fargo & Company during the 3rd quarter worth approximately $211,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Trading Down 2.5 %

Wells Fargo & Company stock traded down $2.02 during trading on Monday, reaching $78.65. 8,013,759 shares of the company were exchanged, compared to its average volume of 14,926,173. The stock's 50 day simple moving average is $73.89 and its two-hundred day simple moving average is $65.51. 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 company has a market capitalization of $261.86 billion, a P/E ratio of 14.62, a PEG ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a 52-week low of $47.59 and a 52-week high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 earnings per share. On average, equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. Wells Fargo & Company's dividend payout ratio (DPR) is 29.74%.

Analyst Ratings Changes

A number of brokerages have commented on WFC. Evercore ISI increased their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. Piper Sandler upped their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Compass Point increased their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Finally, Barclays upped their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $73.39.

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.