TCW Group Inc. Has $37.38 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

TCW Group Inc. lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 532,209 shares of the financial services provider’s stock after selling 24,453 shares during the period. TCW Group Inc.’s holdings in Wells Fargo & Company were worth $37,382,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in WFC. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Wells Fargo & Company during the third quarter valued at about $637,000. Assenagon Asset Management S.A. raised its holdings in shares of Wells Fargo & Company by 8.3% during the third quarter. Assenagon Asset Management S.A. now owns 96,400 shares of the financial services provider’s stock valued at $5,446,000 after purchasing an additional 7,415 shares during the period. Ballentine Partners LLC raised its holdings in shares of Wells Fargo & Company by 4.4% during the third quarter. Ballentine Partners LLC now owns 39,667 shares of the financial services provider’s stock valued at $2,241,000 after purchasing an additional 1,676 shares during the period. Pavion Blue Capital LLC raised its holdings in shares of Wells Fargo & Company by 10.7% during the third quarter. Pavion Blue Capital LLC now owns 50,941 shares of the financial services provider’s stock valued at $2,878,000 after purchasing an additional 4,926 shares during the period. Finally, Joel Isaacson & Co. LLC raised its holdings in shares of Wells Fargo & Company by 0.7% during the third quarter. Joel Isaacson & Co. LLC now owns 45,156 shares of the financial services provider’s stock valued at $2,551,000 after purchasing an additional 313 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the subject of several recent research reports. The Goldman Sachs Group boosted 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. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Citigroup boosted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Compass Point boosted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods boosted their target price 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. Eleven investment 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 an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Down 1.5 %

Wells Fargo & Company stock opened at $77.43 on Friday. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The firm has a 50 day moving average price of $75.20 and a 200-day moving average price of $67.01. The company has a market capitalization of $257.81 billion, a P/E ratio of 14.39, a P/E/G ratio of 1.18 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the prior year, the firm earned $0.86 EPS. The company’s revenue was down .5% compared to the same quarter last year. As a group, equities analysts predict that Wells Fargo & Company will post 5.89 EPS 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. Stockholders 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 dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend 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.