Wells Fargo & Company (NYSE:WFC) Shares Sold by Morningstar Investment Management LLC

Morningstar Investment Management LLC reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 75.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 12,484 shares of the financial services provider’s stock after selling 38,162 shares during the quarter. Morningstar Investment Management LLC’s holdings in Wells Fargo & Company were worth $877,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Zullo Investment Group Inc. grew its holdings in Wells Fargo & Company by 5.7% during the fourth quarter. Zullo Investment Group Inc. now owns 6,180 shares of the financial services provider’s stock worth $434,000 after acquiring an additional 333 shares during the period. Concurrent Investment Advisors LLC boosted its position in Wells Fargo & Company by 8.8% in the 4th quarter. Concurrent Investment Advisors LLC now owns 45,046 shares of the financial services provider’s stock worth $3,164,000 after purchasing an additional 3,643 shares in the last quarter. RW Investment Management LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $202,000. Hardy Reed LLC increased its holdings in shares of Wells Fargo & Company by 4.0% during the 4th quarter. Hardy Reed LLC now owns 5,564 shares of the financial services provider’s stock valued at $391,000 after purchasing an additional 215 shares in the last quarter. Finally, Advyzon Investment Management LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $530,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on WFC. UBS Group raised their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. The Goldman Sachs Group raised their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Truist Financial upped their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Evercore ISI raised their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods upped their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $80.38 on Thursday. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The stock has a market cap of $267.63 billion, a PE ratio of 14.94, a P/E/G ratio of 1.21 and a beta of 1.18. 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 stock has a 50 day moving average price of $74.90 and a 200 day moving average price of $66.64.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business 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 company earned $0.86 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 1.99%. Wells Fargo & Company’s dividend payout ratio (DPR) is 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.