Wells Fargo & Company (NYSE:WFC) Shares Sold by Morningstar Investment Management LLC

Morningstar Investment Management LLC reduced its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 75.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,484 shares of the financial services provider's stock after selling 38,162 shares during the quarter. Morningstar Investment Management LLC's holdings in Wells Fargo & Company were worth $877,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Two Sigma Advisers LP increased its stake in shares of Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider's stock worth $336,375,000 after purchasing an additional 5,237,500 shares in the last quarter. Canoe Financial LP acquired a new stake in Wells Fargo & Company during the 3rd quarter valued at $160,529,000. Caisse DE Depot ET Placement DU Quebec increased its position in Wells Fargo & Company by 158.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider's stock worth $153,069,000 after buying an additional 1,659,716 shares in the last quarter. Artemis Investment Management LLP raised its holdings in shares of Wells Fargo & Company by 410.8% in the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider's stock worth $96,567,000 after acquiring an additional 1,105,679 shares during the last quarter. Finally, National Pension Service lifted its position in shares of Wells Fargo & Company by 15.2% in the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider's stock valued at $383,532,000 after acquiring an additional 897,195 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Morgan Stanley lifted their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Piper Sandler lifted their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. The Goldman Sachs Group upped their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Truist Financial lifted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Finally, Citigroup boosted their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a "neutral" rating in a report on Tuesday, November 19th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of "Hold" and a consensus price target of $73.39.

Wells Fargo & Company Trading Down 1.5 %

WFC stock traded down $1.20 during midday trading on Friday, reaching $77.43. 18,202,694 shares of the company's stock traded hands, compared to its average volume of 15,263,509. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The business has a 50-day moving average price of $75.06 and a two-hundred day moving average price of $66.73. The company has a market capitalization of $257.81 billion, a P/E ratio of 14.39, a PEG ratio of 1.20 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share 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 for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the business posted $0.86 EPS. The business's quarterly revenue was down .5% on a year-over-year basis. Equities research analysts forecast 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 will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company's payout ratio is 29.74%.

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.