RiverFront Investment Group LLC Decreases Stake in Wells Fargo & Company (NYSE:WFC)

RiverFront Investment Group LLC trimmed its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 109,496 shares of the financial services provider's stock after selling 6,998 shares during the quarter. RiverFront Investment Group LLC's holdings in Wells Fargo & Company were worth $7,691,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC raised its stake 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 during the last quarter. Rockefeller Capital Management L.P. raised its holdings in Wells Fargo & Company by 37.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider's stock worth $36,055,000 after purchasing an additional 173,083 shares during the period. Atlantic Union Bankshares Corp boosted its position in Wells Fargo & Company by 17.4% during the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider's stock worth $10,031,000 after purchasing an additional 26,320 shares in the last quarter. Valmark Advisers Inc. grew its holdings in Wells Fargo & Company by 5.5% in the fourth quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider's stock valued at $583,000 after purchasing an additional 431 shares during the period. Finally, NatWest Group plc increased its position in shares of Wells Fargo & Company by 57.7% in the fourth quarter. NatWest Group plc now owns 172,484 shares of the financial services provider's stock valued at $12,115,000 after buying an additional 63,102 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms recently issued reports on WFC. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Barclays boosted their target price 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. Royal Bank of Canada raised shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target on the stock in a research note on Thursday, March 13th. Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a report on Thursday, January 16th. Finally, Compass Point raised their target price 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. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $74.97.

Wells Fargo & Company Trading Up 1.4 %

NYSE:WFC traded up $0.98 on Monday, hitting $71.67. The stock had a trading volume of 6,168,535 shares, compared to its average volume of 15,893,972. The company has a fifty day moving average price of $75.84 and a two-hundred day moving average price of $70.14. 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 stock has a market cap of $234.01 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 1.18 and a beta of 1.16.

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 (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company's revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 EPS. Equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.23%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is currently 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.