Wells Fargo & Company (NYSE:WFC) Shares Sold by Core Alternative Capital

Core Alternative Capital reduced its stake in Wells Fargo & Company (NYSE:WFC) by 14.0% in the fourth quarter, HoldingsChannel reports. The fund owned 9,803 shares of the financial services provider’s stock after selling 1,598 shares during the quarter. Core Alternative Capital’s holdings in Wells Fargo & Company were worth $689,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in WFC. National Pension Service raised its holdings in shares of Wells Fargo & Company by 15.2% in 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. Diamond Hill Capital Management Inc. raised its holdings in shares of Wells Fargo & Company by 2.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock valued at $375,183,000 after acquiring an additional 162,066 shares during the period. Nordea Investment Management AB raised its holdings in shares of Wells Fargo & Company by 10.1% during the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after acquiring an additional 575,892 shares during the period. Two Sigma Advisers LP raised its holdings in shares of Wells Fargo & Company by 730.4% during the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after acquiring an additional 5,237,500 shares during the period. Finally, Canoe Financial LP acquired a new stake in shares of Wells Fargo & Company during the third quarter valued at approximately $160,529,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Compass Point boosted their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group boosted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Finally, Evercore ISI upped their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Trading Down 2.0 %

WFC stock opened at $79.05 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The company’s 50-day simple moving average is $73.89 and its 200 day simple moving average is $65.51. Wells Fargo & Company has a 52 week low of $47.59 and a 52 week high of $81.50. The company has a market capitalization of $263.21 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during 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%. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 earnings per share. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

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.