Pitcairn Co. raised its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 16.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,879 shares of the financial services provider's stock after buying an additional 8,793 shares during the period. Pitcairn Co.'s holdings in Wells Fargo & Company were worth $4,276,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of WFC. Empowered Funds LLC lifted its position in shares of Wells Fargo & Company by 19.1% during the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock valued at $13,369,000 after buying an additional 30,510 shares in the last quarter. Valmark Advisers Inc. raised its position in Wells Fargo & Company by 5.5% during the fourth quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider's stock worth $583,000 after acquiring an additional 431 shares during the period. NatWest Group plc lifted its holdings in Wells Fargo & Company by 57.7% during the fourth quarter. NatWest Group plc now owns 172,484 shares of the financial services provider's stock valued at $12,115,000 after purchasing an additional 63,102 shares in the last quarter. Weiss Asset Management LP acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at about $10,451,000. Finally, Financiere des Professionnels Fonds d investissement inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $1,656,000. Institutional investors and hedge funds own 75.90% of the company's stock.
Analyst Ratings Changes
WFC has been the topic of a number of research reports. Compass Point raised their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Bank of America reduced their price objective on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a research note on Thursday. Finally, Morgan Stanley set a $79.00 target price on shares of Wells Fargo & Company in a research report on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.55.
Check Out Our Latest Analysis on WFC
Wells Fargo & Company Trading Down 9.2 %
Shares of Wells Fargo & Company stock traded down $6.64 during trading hours on Thursday, hitting $65.62. The company's stock had a trading volume of 25,850,355 shares, compared to its average volume of 17,157,369. The stock has a market cap of $214.27 billion, a price-to-earnings ratio of 12.20, a P/E/G ratio of 1.18 and a beta of 1.16. 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 has a twelve month low of $50.15 and a twelve month high of $81.50. The firm has a fifty day moving average of $75.26 and a 200-day moving average of $70.40.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $20.38 billion for the quarter, compared to analysts' expectations of $20.58 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. Wells Fargo & Company's revenue for the quarter 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 year.
Wells Fargo & Company Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given 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 2.44%. Wells Fargo & Company's 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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