B. Metzler seel. Sohn & Co. AG Sells 82,928 Shares of Wells Fargo & Company (NYSE:WFC)

B. Metzler seel. Sohn & Co. AG lowered its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 39.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 125,718 shares of the financial services provider's stock after selling 82,928 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Wells Fargo & Company were worth $8,830,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Wells Fargo & Company in the fourth quarter valued at about $3,365,658,000. Two Sigma Advisers LP grew its stake in shares of Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider's stock valued at $336,375,000 after purchasing an additional 5,237,500 shares during the period. Artisan Partners Limited Partnership acquired a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $117,026,000. KLP Kapitalforvaltning AS bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $85,031,000. Finally, Korea Investment CORP boosted its stake in Wells Fargo & Company by 53.9% in the 4th quarter. Korea Investment CORP now owns 3,286,809 shares of the financial services provider's stock valued at $230,865,000 after buying an additional 1,150,443 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on WFC shares. 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 note on Thursday, January 16th. Compass Point lifted their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 target price for the company in a research note on Thursday, March 13th. Finally, Citigroup dropped their price target on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $74.97.

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Wells Fargo & Company Trading Down 0.7 %

Shares of NYSE:WFC traded down $0.52 during midday trading on Tuesday, hitting $71.27. The company had a trading volume of 10,659,106 shares, compared to its average volume of 17,129,811. The firm has a fifty day simple moving average of $75.73 and a 200 day simple moving average of $70.29. The stock has a market cap of $232.72 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 1.18 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted 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 during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company's revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 EPS. On average, analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date 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 dividend payout ratio is 29.74%.

Wells Fargo & Company 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.