Clearbridge Investments LLC Has $7.36 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Clearbridge Investments LLC cut its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 27.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 104,837 shares of the financial services provider's stock after selling 39,997 shares during the period. Clearbridge Investments LLC's holdings in Wells Fargo & Company were worth $7,364,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of WFC. Rialto Wealth Management LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $26,000. Modus Advisors LLC bought a new position in Wells Fargo & Company during the 4th quarter worth $30,000. McClarren Financial Advisors Inc. acquired a new position in Wells Fargo & Company in the 4th quarter valued at $30,000. Rakuten Securities Inc. lifted its position in shares of Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 237 shares during the period. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth $32,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Trading Down 9.2 %

Shares of WFC stock traded down $6.64 on Thursday, hitting $65.62. The company had a trading volume of 25,850,355 shares, compared to its average volume of 17,157,369. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market cap of $214.27 billion, a P/E ratio of 12.20, a P/E/G ratio of 1.18 and a beta of 1.16. The stock's 50-day moving average is $75.50 and its two-hundred day moving average is $70.43.

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Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.09. The business 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 for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. On average, equities research analysts anticipate 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 was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.44%. Wells Fargo & Company's payout ratio is 29.74%.

Analysts Set New Price Targets

Several research firms recently weighed in on WFC. Barclays upped their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Truist Financial lifted their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods upped their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research note on Thursday, January 16th. UBS Group lifted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Finally, Royal Bank of Canada upgraded Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective for the company in a research report on Thursday, March 13th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of "Moderate Buy" and a consensus target price of $75.55.

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.