StoneX Group Inc. Lowers Holdings in Wells Fargo & Company (NYSE:WFC)

StoneX Group Inc. trimmed its position in shares of Wells Fargo & Company (NYSE:WFC) by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,075 shares of the financial services provider’s stock after selling 1,268 shares during the period. StoneX Group Inc.’s holdings in Wells Fargo & Company were worth $1,059,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Rialto Wealth Management LLC purchased a new position in Wells Fargo & Company during the fourth quarter worth about $26,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company during the 4th quarter worth approximately $30,000. McClarren Financial Advisors Inc. purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at $30,000. Rakuten Securities Inc. grew its stake in shares of Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 237 shares in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new position in Wells Fargo & Company in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on WFC. Citigroup lowered their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Compass Point raised their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. 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 report on Monday, December 9th. Barclays lifted their target price on 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, The Goldman Sachs Group upped their target price 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. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $75.55.

Wells Fargo & Company Trading Down 7.5 %

Shares of Wells Fargo & Company stock traded down $5.39 during midday trading on Thursday, reaching $66.87. 13,140,653 shares of the company’s stock traded hands, compared to its average volume of 17,093,658. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company has a market cap of $218.34 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The stock has a 50 day moving average of $75.50 and a 200-day moving average of $70.43. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last issued 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 firm had revenue of $20.38 billion for 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%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 EPS. As a group, equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 29.74%.

About Wells Fargo & Company

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.