Good Life Advisors LLC Sells 311 Shares of Wells Fargo & Company (NYSE:WFC)

Good Life Advisors LLC cut its holdings in Wells Fargo & Company (NYSE:WFC) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,486 shares of the financial services provider’s stock after selling 311 shares during the period. Good Life Advisors LLC’s holdings in Wells Fargo & Company were worth $807,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WFC. National Pension Service lifted its holdings in shares of Wells Fargo & Company by 15.2% in the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after buying an additional 897,195 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Wells Fargo & Company by 2.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock worth $375,183,000 after purchasing an additional 162,066 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of 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 grew its position 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 purchasing an additional 5,237,500 shares in the last quarter. Finally, Canoe Financial LP bought a new stake in shares of Wells Fargo & Company in the third quarter worth about $160,529,000. 75.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WFC has been the subject of several research analyst reports. Compass Point raised their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods boosted their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Truist Financial increased their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. UBS Group boosted their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Barclays increased their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Stock Down 0.5 %

Shares of WFC stock opened at $80.38 on Thursday. 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 has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The firm has a market capitalization of $267.63 billion, a PE ratio of 14.94, a P/E/G ratio of 1.20 and a beta of 1.18. The stock’s 50-day simple moving average is $74.90 and its 200-day simple moving average is $66.64.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating 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%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 EPS. Equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

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