Aviva PLC Sells 39,319 Shares of Wells Fargo & Company (NYSE:WFC)

Aviva PLC decreased its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 2.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,637,997 shares of the financial services provider's stock after selling 39,319 shares during the period. Aviva PLC's holdings in Wells Fargo & Company were worth $115,053,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of WFC. Empowered Funds LLC boosted its holdings in Wells Fargo & Company by 19.1% in the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock worth $13,369,000 after purchasing an additional 30,510 shares during the period. Valmark Advisers Inc. increased its stake in shares of 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 valued at $583,000 after acquiring an additional 431 shares during the period. NatWest Group plc lifted its holdings 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 during the period. Weiss Asset Management LP acquired a new stake in Wells Fargo & Company in the 3rd quarter valued at about $10,451,000. Finally, Financiere des Professionnels Fonds d investissement inc. bought a new stake in Wells Fargo & Company during the fourth quarter worth approximately $1,656,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on WFC shares. UBS Group boosted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, December 9th. 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. Truist Financial reduced their price target on shares of Wells Fargo & Company from $86.00 to $84.00 and set a "buy" rating for the company in a research report on Friday. Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the company an "overweight" rating in a research report on Monday. Finally, JPMorgan Chase & Co. cut their price objective on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a report on Thursday. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $75.55.

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Wells Fargo & Company Trading Up 1.9 %

WFC stock traded up $1.13 during midday trading on Monday, reaching $62.11. The stock had a trading volume of 41,270,103 shares, compared to its average volume of 17,352,505. The firm has a market cap of $202.81 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The business has a fifty day simple moving average of $74.93 and a two-hundred day simple moving average of $70.67. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 EPS. As a group, research analysts expect that Wells Fargo & Company will post 5.89 EPS 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. Investors of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.58%. Wells Fargo & Company's payout ratio is 29.74%.

Wells Fargo & 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.