HF Advisory Group LLC Has $2.67 Million Stake in Wells Fargo & Company (NYSE:WFC)

HF Advisory Group LLC reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 37,946 shares of the financial services provider’s stock after selling 947 shares during the quarter. Wells Fargo & Company comprises about 1.2% of HF Advisory Group LLC’s investment portfolio, making the stock its 21st largest position. HF Advisory Group LLC’s holdings in Wells Fargo & Company were worth $2,665,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Two Sigma Advisers LP raised its stake in Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after buying an additional 5,237,500 shares during the period. Canoe Financial LP acquired a new stake in shares of Wells Fargo & Company during the third quarter worth about $160,529,000. Marshall Wace LLP lifted its holdings in shares of Wells Fargo & Company by 3,295.6% during the 2nd quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock valued at $138,493,000 after purchasing an additional 2,404,898 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Wells Fargo & Company by 158.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock valued at $153,069,000 after purchasing an additional 1,659,716 shares during the period. Finally, National Pension Service increased its stake in Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after purchasing an additional 897,195 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WFC shares. Piper Sandler upped their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Compass Point upped their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research note on Tuesday, October 8th. Evercore ISI increased their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their target price for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $77.22 on Friday. The firm’s fifty day moving average price is $72.74 and its two-hundred day moving average price is $63.44. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $257.11 billion, a P/E ratio of 16.05, a P/E/G ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a one year low of $46.12 and a one year high of $78.13.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period last year, the business posted $0.86 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Equities analysts expect that Wells Fargo & Company will post 5.45 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is 29.74%.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.