O Shaughnessy Asset Management LLC grew its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,531,997 shares of the financial services provider's stock after purchasing an additional 140,678 shares during the period. Wells Fargo & Company makes up approximately 0.9% of O Shaughnessy Asset Management LLC's investment portfolio, making the stock its 12th largest holding. O Shaughnessy Asset Management LLC's holdings in Wells Fargo & Company were worth $107,607,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Rialto Wealth Management LLC acquired a new stake in Wells Fargo & Company in the 4th quarter valued at about $26,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company during the fourth quarter worth approximately $30,000. Rakuten Securities Inc. grew 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 buying an additional 237 shares during the last quarter. Finally, Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at $32,000. 75.90% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts recently weighed in on WFC shares. Royal Bank of Canada upgraded Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target for the company in a research report on Thursday, March 13th. The Goldman Sachs Group boosted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a report on Friday, December 6th. Barclays raised their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods boosted their target price 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. Finally, 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 report on Tuesday, December 10th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.97.
Check Out Our Latest Stock Report on Wells Fargo & Company
Wells Fargo & Company Stock Up 1.6 %
NYSE WFC traded up $1.16 during trading on Monday, hitting $71.85. 14,851,165 shares of the company traded hands, compared to its average volume of 17,131,321. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The business has a fifty day simple moving average of $75.84 and a 200 day simple moving average of $70.14. The company has a market capitalization of $234.59 billion, a P/E ratio of 13.35, a PEG ratio of 1.18 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm's revenue was down .5% compared to the same quarter last year. During the same period last year, the business earned $0.86 EPS. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.
Wells Fargo & Company Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is currently 29.74%.
About Wells Fargo & Company
(
Free Report)
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.
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