Meiji Yasuda Asset Management Co Ltd. Sells 710 Shares of Wells Fargo & Company (NYSE:WFC)

Meiji Yasuda Asset Management Co Ltd. lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 0.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 113,526 shares of the financial services provider’s stock after selling 710 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Wells Fargo & Company were worth $7,974,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of WFC. Meridian Wealth Management LLC acquired a new stake in Wells Fargo & Company in the third quarter valued at approximately $504,000. Nwam LLC acquired a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at $309,000. Great Valley Advisor Group Inc. grew its position in Wells Fargo & Company by 2.1% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 23,205 shares of the financial services provider’s stock worth $1,311,000 after acquiring an additional 487 shares during the last quarter. Algert Global LLC bought a new stake in shares of Wells Fargo & Company during the third quarter worth about $3,981,000. Finally, Larson Financial Group LLC increased its position in Wells Fargo & Company by 21.8% in the 3rd quarter. Larson Financial Group LLC now owns 6,129 shares of the financial services provider’s stock valued at $346,000 after acquiring an additional 1,097 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Piper Sandler increased their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. UBS Group lifted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Truist Financial increased their price target 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. Finally, 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. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and an average target price of $74.18.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $74.28 on Tuesday. 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 business has a 50 day moving average of $76.03 and a 200 day moving average of $69.62. The company has a market capitalization of $244.25 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.18 and a beta of 1.16.

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

Wells Fargo & Company Dividend Announcement

The firm 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 dividend yield of 2.15%. Wells Fargo & Company’s dividend payout ratio is presently 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.