Wells Fargo & Company (NYSE:WFC) Shares Sold by Johnson Financial Group Inc.

Johnson Financial Group Inc. lessened its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 27.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,665 shares of the financial services provider's stock after selling 12,015 shares during the quarter. Johnson Financial Group Inc.'s holdings in Wells Fargo & Company were worth $2,224,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WFC. Rialto Wealth Management LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth $26,000. Investment Counsel Co. of Nevada acquired a new position in Wells Fargo & Company in the 4th quarter valued at about $28,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company in the 4th quarter valued at about $30,000. McClarren Financial Advisors Inc. acquired a new position in Wells Fargo & Company in the 4th quarter valued at about $30,000. Finally, Rakuten Securities Inc. raised its stake in Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 237 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC traded down $0.32 during trading hours on Monday, hitting $69.41. The stock had a trading volume of 16,669,298 shares, compared to its average volume of 17,458,662. The stock's fifty day simple moving average is $69.80 and its 200 day simple moving average is $71.68. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The firm has a market capitalization of $226.63 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.18 and a beta of 1.02. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

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, beating the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. During the same quarter last year, the business earned $1.20 earnings per share. Wells Fargo & Company's revenue was down 3.4% compared to the same quarter last year. Sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.31%. Wells Fargo & Company's dividend payout ratio is presently 28.73%.

Analyst Ratings Changes

WFC has been the subject of several analyst reports. Raymond James cut their target price on shares of Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating for the company in a research note on Monday, April 14th. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday, April 7th. Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a research note on Thursday, January 16th. Citigroup dropped their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Finally, Truist Financial dropped their price objective on shares of Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and an average 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.