Securian Asset Management Inc. Sells 9,311 Shares of Wells Fargo & Company (NYSE:WFC)

Securian Asset Management Inc. lessened its holdings in Wells Fargo & Company (NYSE:WFC) by 4.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,946 shares of the financial services provider’s stock after selling 9,311 shares during the quarter. Securian Asset Management Inc.’s holdings in Wells Fargo & Company were worth $12,569,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Rialto Wealth Management LLC acquired a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $26,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $30,000. McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $30,000. Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $35,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on WFC shares. Citigroup raised their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Keefe, Bruyette & Woods raised their price objective on shares of 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. The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Barclays raised their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Compass Point raised their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Trading Up 0.8 %

NYSE WFC opened at $67.33 on Wednesday. The stock has a market capitalization of $221.40 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a one year low of $50.15 and a one 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 business’s fifty day moving average is $75.96 and its 200-day moving average is $68.74.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the business 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 firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Friday, February 7th. 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.