Guggenheim Capital LLC Sells 61,869 Shares of Wells Fargo & Company (NYSE:WFC)

Guggenheim Capital LLC lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 17.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 288,008 shares of the financial services provider's stock after selling 61,869 shares during the quarter. Guggenheim Capital LLC's holdings in Wells Fargo & Company were worth $20,230,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of WFC. Norges Bank acquired a new position in Wells Fargo & Company during the 4th quarter valued at about $3,365,658,000. Artisan Partners Limited Partnership purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $117,026,000. KLP Kapitalforvaltning AS purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $85,031,000. Korea Investment CORP raised its position 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 during the last quarter. Finally, Artemis Investment Management LLP lifted its stake in Wells Fargo & Company by 410.8% during the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider's stock valued at $96,567,000 after acquiring an additional 1,105,679 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Trading Up 1.0 %

Shares of NYSE:WFC traded up $0.65 during midday trading on Friday, hitting $64.63. 18,930,900 shares of the stock traded hands, compared to its average volume of 17,611,591. 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 stock has a market capitalization of $211.02 billion, a PE ratio of 12.01, a P/E/G ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The business's 50 day moving average is $71.53 and its two-hundred day moving average is $70.98.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 billion. During the same quarter last year, the firm posted $1.20 earnings per share. The firm's revenue was down 3.4% on a year-over-year basis. As a group, research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company 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. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.48%. Wells Fargo & Company's dividend payout ratio (DPR) is 28.73%.

Wall Street Analyst Weigh In

WFC has been the subject of several recent analyst reports. Bank of America reduced their target price on shares of Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Piper Sandler reduced their target price on Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating for the company in a report on Monday. Citigroup cut their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Truist Financial lowered their target price on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.34.

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.