Foster Group Inc. Has $2.77 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Foster Group Inc. lowered its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 8.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,422 shares of the financial services provider's stock after selling 3,740 shares during the quarter. Foster Group Inc.'s holdings in Wells Fargo & Company were worth $2,769,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. National Pension Service raised its stake in Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider's stock valued at $383,532,000 after purchasing an additional 897,195 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Wells Fargo & Company by 2.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider's stock valued at $375,183,000 after buying an additional 162,066 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Wells Fargo & Company by 10.1% during the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider's stock valued at $441,983,000 after buying an additional 575,892 shares during the period. Two Sigma Advisers LP boosted its position in Wells Fargo & Company by 730.4% during the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider's stock worth $336,375,000 after acquiring an additional 5,237,500 shares during the last quarter. Finally, Canoe Financial LP purchased a new stake in Wells Fargo & Company in the 3rd quarter worth approximately $160,529,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Up 0.6 %

WFC stock traded up $0.48 during mid-day trading on Wednesday, reaching $78.36. 4,852,779 shares of the stock traded hands, compared to its average volume of 14,986,683. Wells Fargo & Company has a 52-week low of $47.45 and a 52-week high of $78.98. The stock's fifty day moving average is $73.35 and its 200-day moving average is $64.38. The company has a market cap of $260.89 billion, a P/E ratio of 14.58, a P/E/G ratio of 1.17 and a beta of 1.18. 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 (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. The firm's quarterly revenue was down .5% on a year-over-year basis. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. Wells Fargo & Company's dividend payout ratio is 29.74%.

Analysts Set New Price Targets

WFC has been the topic of several analyst reports. Morgan Stanley raised their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. UBS Group increased their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Citigroup increased their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 19th. Piper Sandler boosted their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $73.39.

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.