Generali Investments Management Co LLC Makes New $1.21 Million Investment in Wells Fargo & Company (NYSE:WFC)

Generali Investments Management Co LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,156 shares of the financial services provider's stock, valued at approximately $1,205,000.

Other hedge funds also recently modified their holdings of the company. Rialto Wealth Management LLC bought a new position in Wells Fargo & Company in the fourth quarter worth $26,000. Truvestments Capital LLC bought a new position in Wells Fargo & Company in the third quarter worth $29,000. Modus Advisors LLC bought a new position in Wells Fargo & Company in the fourth quarter worth $30,000. McClarren Financial Advisors Inc. bought a new position in Wells Fargo & Company in the fourth quarter worth $30,000. Finally, Rakuten Securities Inc. lifted its position in Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock worth $30,000 after purchasing an additional 237 shares during the period. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Trading Down 0.0 %

WFC stock traded down $0.01 during midday trading on Friday, reaching $72.51. The stock had a trading volume of 32,620,920 shares, compared to its average volume of 16,441,602. The business has a fifty day simple moving average of $75.95 and a two-hundred day simple moving average of $69.42. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The firm has a market cap of $238.43 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50.

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Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data 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 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 was down .5% on a year-over-year basis. During the same period last year, the company earned $0.86 earnings per share. As a group, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's dividend payout ratio (DPR) is currently 29.74%.

Analysts Set New Price Targets

WFC has been the subject of several research reports. Barclays raised their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. UBS Group lifted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a report on Monday, December 9th. Morgan Stanley lifted their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Royal Bank of Canada raised Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective for the company in a report on Thursday, March 13th. Finally, The Goldman Sachs Group lifted their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a report on Friday, December 6th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $74.39.

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.