Partners Wealth Management LLC Purchases Shares of 5,169 Wells Fargo & Company (NYSE:WFC)

Partners Wealth Management LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,169 shares of the financial services provider’s stock, valued at approximately $363,000.

Several other institutional investors have also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. purchased a new position in Wells Fargo & Company during the third quarter worth approximately $637,000. Assenagon Asset Management S.A. raised its stake in shares of Wells Fargo & Company by 8.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 96,400 shares of the financial services provider’s stock worth $5,446,000 after buying an additional 7,415 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Wells Fargo & Company by 14.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 296,708 shares of the financial services provider’s stock valued at $15,740,000 after buying an additional 38,532 shares in the last quarter. Arkadios Wealth Advisors grew its stake in Wells Fargo & Company by 19.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 19,801 shares of the financial services provider’s stock valued at $1,119,000 after acquiring an additional 3,228 shares during the period. Finally, Modera Wealth Management LLC increased its holdings in Wells Fargo & Company by 0.9% in the 3rd quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock worth $1,018,000 after acquiring an additional 167 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 1.5 %

Shares of NYSE:WFC opened at $77.43 on Monday. The firm has a market capitalization of $257.81 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm’s 50-day moving average is $75.20 and its two-hundred day moving average is $67.11.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter last year, the company posted $0.86 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Analysts Set New Price Targets

Several research firms have issued reports on WFC. Piper Sandler increased their price objective 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. UBS Group upped their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. The Goldman Sachs Group lifted their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Keefe, Bruyette & Woods increased their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Finally, Compass Point lifted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and a consensus target price of $73.39.

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.