Massachusetts Financial Services Co. MA Raises Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Massachusetts Financial Services Co. MA lifted its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 28.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,846,015 shares of the financial services provider's stock after acquiring an additional 626,791 shares during the period. Massachusetts Financial Services Co. MA owned 0.09% of Wells Fargo & Company worth $199,904,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Spinnaker Trust increased its position in shares of Wells Fargo & Company by 1.8% during the fourth quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider's stock worth $520,000 after purchasing an additional 130 shares in the last quarter. MONECO Advisors LLC grew its stake in Wells Fargo & Company by 1.9% during the 4th quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider's stock worth $493,000 after buying an additional 134 shares during the last quarter. Crown Wealth Group LLC increased its position in Wells Fargo & Company by 2.2% during the 4th quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider's stock valued at $467,000 after buying an additional 140 shares in the last quarter. Jacobsen Capital Management raised its stake in Wells Fargo & Company by 2.8% in the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider's stock valued at $381,000 after buying an additional 148 shares during the last quarter. Finally, New Republic Capital LLC boosted its holdings in Wells Fargo & Company by 2.9% in the fourth quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider's stock worth $369,000 after acquiring an additional 149 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

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Analysts Set New Price Targets

WFC has been the topic of several recent analyst reports. Bank of America cut their price objective on shares of Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday. Morgan Stanley set a $79.00 price target on shares of Wells Fargo & Company in a research note on Monday, March 24th. Royal Bank of Canada upgraded shares of 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 note on Thursday, March 13th. Compass Point raised their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods raised 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. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.50.

Wells Fargo & Company Trading Down 7.2 %

Shares of WFC traded down $4.76 during midday trading on Friday, reaching $60.91. The company had a trading volume of 31,028,896 shares, compared to its average volume of 17,232,166. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. 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 50 day simple moving average of $74.93 and a 200-day simple moving average of $70.44. The stock has a market cap of $198.89 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $20.38 billion during the quarter, compared to analysts' expectations of $20.58 billion. During the same period last year, the business earned $0.86 earnings per share. Wells Fargo & Company's revenue was down .5% compared to the same quarter last year. Research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's payout ratio is presently 29.74%.

Wells Fargo & 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.