Twin Capital Management Inc. Sells 3,812 Shares of Wells Fargo & Company (NYSE:WFC)

Twin Capital Management Inc. lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 84,616 shares of the financial services provider’s stock after selling 3,812 shares during the quarter. Twin Capital Management Inc.’s holdings in Wells Fargo & Company were worth $4,165,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $2,049,693,000. Northern Trust Corp increased its position in Wells Fargo & Company by 0.3% during the third quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock worth $1,560,755,000 after acquiring an additional 129,300 shares during the period. Moneta Group Investment Advisors LLC increased its position in Wells Fargo & Company by 129,312.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock worth $1,085,410,000 after acquiring an additional 26,267,166 shares during the period. Charles Schwab Investment Management Inc. increased its position in Wells Fargo & Company by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 21,901,706 shares of the financial services provider’s stock worth $1,061,357,000 after acquiring an additional 64,080 shares during the period. Finally, Pzena Investment Management LLC increased its position in Wells Fargo & Company by 1.9% during the third quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock worth $746,484,000 after acquiring an additional 335,560 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $51.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday. Jefferies Financial Group lifted their price target on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Raymond James lifted their price target on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 16th. Finally, Compass Point reiterated a “neutral” rating and set a $64.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Thirteen analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Trading Up 2.2 %

NYSE:WFC traded up $1.26 on Thursday, hitting $58.44. 12,699,211 shares of the stock were exchanged, compared to its average volume of 18,601,473. The stock has a market capitalization of $206.90 billion, a price-to-earnings ratio of 12.29, a P/E/G ratio of 1.10 and a beta of 1.19. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $59.13. 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 50-day moving average price is $55.42 and its 200 day moving average price is $48.61.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.23 EPS. On average, equities research analysts forecast that Wells Fargo & Company will post 5.04 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.40 annualized dividend and a yield of 2.40%. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Wells Fargo & 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.