Wells Fargo & Company (NYSE:WFC) Shares Sold by River Global Investors LLP

River Global Investors LLP reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,333 shares of the financial services provider’s stock after selling 4,233 shares during the quarter. River Global Investors LLP’s holdings in Wells Fargo & Company were worth $3,856,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fortis Group Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at $25,000. Arlington Trust Co LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $25,000. Leith Wheeler Investment Counsel Ltd. increased its stake in Wells Fargo & Company by 208.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 356,620 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in Wells Fargo & Company during the 4th quarter worth about $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in Wells Fargo & Company during the fourth quarter valued at about $32,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Up 0.2 %

Shares of NYSE WFC traded up $0.11 during mid-day trading on Friday, reaching $59.94. 17,298,461 shares of the company traded hands, compared to its average volume of 19,706,676. The stock has a market cap of $212.21 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The company’s fifty day moving average is $57.63 and its two-hundred day moving average is $50.23. Wells Fargo & Company has a fifty-two week low of $36.40 and a fifty-two week high of $61.76.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period last year, the business posted $1.23 earnings per share. On average, analysts expect that Wells Fargo & Company will post 5.08 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WFC shares. Argus lifted their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Jefferies Financial Group increased their target price on Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a report on Monday, April 8th. Morgan Stanley lifted their price target on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Robert W. Baird reissued a “neutral” rating and issued a $55.00 price objective on shares of Wells Fargo & Company in a research note on Monday, January 8th. Finally, Citigroup reaffirmed a “neutral” rating and set a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Fourteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $58.99.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.