Prudential Financial Inc. Has $161.69 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Prudential Financial Inc. reduced its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 49.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,301,925 shares of the financial services provider's stock after selling 2,225,041 shares during the quarter. Prudential Financial Inc. owned about 0.07% of Wells Fargo & Company worth $161,687,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Jackson Thornton Wealth Management LLC bought a new position in Wells Fargo & Company in the 4th quarter worth approximately $236,000. Angeles Investment Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $228,000. Congress Wealth Management LLC DE increased its position in Wells Fargo & Company by 17.2% during the fourth quarter. Congress Wealth Management LLC DE now owns 7,452 shares of the financial services provider's stock worth $524,000 after acquiring an additional 1,091 shares during the period. Crowley Wealth Management Inc. acquired a new position in Wells Fargo & Company during the 4th quarter valued at $62,000. Finally, Blueprint Investment Partners LLC raised its stake in Wells Fargo & Company by 120.7% during the 4th quarter. Blueprint Investment Partners LLC now owns 10,930 shares of the financial services provider's stock valued at $768,000 after purchasing an additional 5,978 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WFC shares. UBS Group boosted their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Barclays boosted their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods raised their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research report on Thursday, January 16th. Compass Point boosted their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada upgraded Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 target price for the company in a research note on Thursday, March 13th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.18.

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Wells Fargo & Company Trading Down 0.0 %

Wells Fargo & Company stock traded down $0.01 during mid-day trading on Tuesday, hitting $74.27. The stock had a trading volume of 9,499,112 shares, compared to its average volume of 16,422,289. The stock has a market capitalization of $244.21 billion, a PE ratio of 13.80, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a 50-day simple moving average of $76.09 and a two-hundred day simple moving average of $69.76.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released 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 return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The company's quarterly revenue was down .5% on a year-over-year basis. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.15%. Wells Fargo & Company's payout ratio is 29.74%.

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.