Advisors Asset Management Inc. Purchases 7,208 Shares of Wells Fargo & Company (NYSE:WFC)

Advisors Asset Management Inc. boosted its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 15.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 55,180 shares of the financial services provider's stock after acquiring an additional 7,208 shares during the period. Advisors Asset Management Inc.'s holdings in Wells Fargo & Company were worth $3,876,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of WFC. Rialto Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $26,000. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company in the 3rd quarter worth about $29,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company during the fourth quarter worth about $30,000. McClarren Financial Advisors Inc. purchased a new stake in Wells Fargo & Company in the fourth quarter worth about $30,000. Finally, Rakuten Securities Inc. lifted its holdings in shares of Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 237 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WFC has been the subject of a number of analyst reports. Truist Financial raised their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. UBS Group raised their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a report on Monday, December 9th. Barclays upped their price target 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 raised their price objective 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, Royal Bank of Canada upgraded shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a research note on Thursday, March 13th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $74.18.

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Wells Fargo & Company Stock Performance

NYSE WFC traded down $0.01 during trading hours on Tuesday, hitting $74.27. 9,499,112 shares of the company's stock traded hands, compared to its average volume of 16,416,712. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The firm has a market capitalization of $244.21 billion, a P/E ratio of 13.80, a P/E/G 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. The business's fifty day moving average price is $76.03 and its two-hundred day moving average price is $69.62.

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 analysts' consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company's revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 EPS. Equities research analysts predict 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. Stockholders 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 2.15%. Wells Fargo & Company's 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.