N.E.W. Advisory Services LLC Sells 174 Shares of Wells Fargo & Company (NYSE:WFC)

N.E.W. Advisory Services LLC reduced its stake in Wells Fargo & Company (NYSE:WFC) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 28,416 shares of the financial services provider’s stock after selling 174 shares during the quarter. N.E.W. Advisory Services LLC’s holdings in Wells Fargo & Company were worth $1,996,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. National Pension Service boosted its stake in Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after purchasing an additional 897,195 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Wells Fargo & Company by 2.5% during the 3rd 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 purchasing an additional 162,066 shares during the last quarter. Nordea Investment Management AB boosted its stake in Wells Fargo & Company by 10.1% during the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after purchasing an additional 575,892 shares during the last quarter. Two Sigma Advisers LP boosted its stake in Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after purchasing an additional 5,237,500 shares during the last quarter. Finally, Canoe Financial LP purchased a new stake in Wells Fargo & Company during the 3rd quarter valued at $160,529,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $78.81 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The business’s 50-day simple moving average is $73.53 and its two-hundred day simple moving average is $64.58. The stock has a market cap of $262.40 billion, a PE ratio of 14.65, a P/E/G ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $47.45 and a 52 week high of $79.29.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business 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 quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the firm earned $0.86 earnings per share. As a group, analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. The Goldman Sachs Group increased their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Evercore ISI increased their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. UBS Group increased their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Piper Sandler increased their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Citigroup increased their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $73.39.

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.