Hefty Wealth Partners raised its holdings in Wells Fargo & Co (NYSE:WFC) by 10,808.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,272 shares of the financial services provider’s stock after buying an additional 15,132 shares during the period. Hefty Wealth Partners’ holdings in Wells Fargo & Co were worth $927,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the business. Prudential Financial Inc. lifted its position in shares of Wells Fargo & Co by 23.6% during the third quarter. Prudential Financial Inc. now owns 12,504,107 shares of the financial services provider’s stock valued at $689,601,000 after purchasing an additional 2,384,872 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in Wells Fargo & Co in the third quarter worth about $23,202,000. AXA raised its position in Wells Fargo & Co by 30.4% in the third quarter. AXA now owns 1,752,761 shares of the financial services provider’s stock worth $96,664,000 after acquiring an additional 408,349 shares during the period. Sage Capital Advisors llc raised its position in Wells Fargo & Co by 17.0% in the third quarter. Sage Capital Advisors llc now owns 51,173 shares of the financial services provider’s stock worth $2,822,000 after acquiring an additional 7,435 shares during the period. Finally, Chicago Partners Investment Group LLC raised its position in Wells Fargo & Co by 964.6% in the third quarter. Chicago Partners Investment Group LLC now owns 14,149 shares of the financial services provider’s stock worth $780,000 after acquiring an additional 12,820 shares during the period. 76.00% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have commented on WFC shares. Vining Sparks reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Wells Fargo & Co in a research report on Monday, January 8th. Vertical Group raised shares of Wells Fargo & Co from a “sell” rating to a “buy” rating in a research report on Thursday, December 7th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Wells Fargo & Co in a research report on Wednesday, November 15th. Buckingham Research raised shares of Wells Fargo & Co from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $57.00 to $75.00 in a research report on Thursday, December 21st. They noted that the move was a valuation call. Finally, Sandler O’Neill raised shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $62.04 to $73.00 in a research report on Tuesday, January 9th. Six research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $62.90.
In related news, VP Richard Levy sold 97,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total transaction of $5,477,590.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald Sargent acquired 9,000 shares of Wells Fargo & Co stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average cost of $55.98 per share, with a total value of $503,820.00. Following the purchase, the director now owns 81 shares of the company’s stock, valued at approximately $4,534.38. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 184,482 shares of company stock valued at $10,471,050. 0.22% of the stock is owned by corporate insiders.
Wells Fargo & Co (NYSE:WFC) opened at $59.95 on Monday. The firm has a market cap of $295,210.00, a PE ratio of 17.38, a PEG ratio of 1.57 and a beta of 1.01. Wells Fargo & Co has a 12 month low of $49.27 and a 12 month high of $66.31. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.90 and a quick ratio of 0.88.
Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.07). The firm had revenue of $22.05 billion for the quarter, compared to analysts’ expectations of $22.64 billion. Wells Fargo & Co had a net margin of 22.57% and a return on equity of 12.24%. Wells Fargo & Co’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.96 EPS. equities research analysts expect that Wells Fargo & Co will post 4.72 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $1.56 annualized dividend and a yield of 2.60%. Wells Fargo & Co’s dividend payout ratio is currently 45.22%.
Wells Fargo & Co declared that its Board of Directors has approved a stock repurchase plan on Tuesday, January 23rd that permits the company to buyback 350,000,000 shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
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About Wells Fargo & Co
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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