AssuredPartners Investment Advisors LLC Takes $352,000 Position in Wells Fargo & Company (NYSE:WFC)

AssuredPartners Investment Advisors LLC purchased a new position in Wells Fargo & Company (NYSE:WFC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,012 shares of the financial services provider's stock, valued at approximately $352,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Empowered Funds LLC increased its holdings in Wells Fargo & Company by 19.1% in the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock worth $13,369,000 after buying an additional 30,510 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in shares of Wells Fargo & Company by 37.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider's stock valued at $36,055,000 after acquiring an additional 173,083 shares during the last quarter. Atlantic Union Bankshares Corp increased its stake in shares of Wells Fargo & Company by 17.4% in the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider's stock worth $10,031,000 after acquiring an additional 26,320 shares during the period. Valmark Advisers Inc. raised its holdings in shares of Wells Fargo & Company by 5.5% during the fourth quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider's stock worth $583,000 after purchasing an additional 431 shares during the last quarter. Finally, NatWest Group plc lifted its position in Wells Fargo & Company by 57.7% during the fourth quarter. NatWest Group plc now owns 172,484 shares of the financial services provider's stock valued at $12,115,000 after purchasing an additional 63,102 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

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Wells Fargo & Company Price Performance

Shares of NYSE:WFC traded up $0.85 during trading on Monday, reaching $71.54. The stock had a trading volume of 5,178,191 shares, compared to its average volume of 17,093,775. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The stock has a market cap of $233.59 billion, a PE ratio of 13.31, a PEG ratio of 1.18 and a beta of 1.16. The business has a fifty day moving average price of $75.84 and a 200-day moving average price of $70.14.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. The company 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 quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 EPS. On average, equities 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 disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.24%. Wells Fargo & Company's payout ratio is currently 29.74%.

Analysts Set New Price Targets

WFC has been the topic of several analyst reports. 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 research report on Thursday, January 16th. Compass Point lifted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. UBS Group upped 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. Piper Sandler lifted their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Finally, The Goldman Sachs Group increased their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $74.97.

Wells Fargo & 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.