Highline Wealth Partners LLC Cuts Stock Holdings in Wells Fargo & Company $WFC

Highline Wealth Partners LLC lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 94.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 769 shares of the financial services provider’s stock after selling 12,994 shares during the period. Highline Wealth Partners LLC’s holdings in Wells Fargo & Company were worth $72,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in WFC. Capital Research Global Investors increased its holdings in shares of Wells Fargo & Company by 18.6% in the 3rd quarter. Capital Research Global Investors now owns 35,660,903 shares of the financial services provider’s stock worth $2,989,104,000 after purchasing an additional 5,584,930 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Wells Fargo & Company by 1.9% during the third quarter. Legal & General Group Plc now owns 21,009,237 shares of the financial services provider’s stock valued at $1,760,994,000 after purchasing an additional 399,088 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Wells Fargo & Company by 7.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 17,859,680 shares of the financial services provider’s stock valued at $1,496,998,000 after purchasing an additional 1,223,999 shares in the last quarter. Amundi boosted its position in shares of Wells Fargo & Company by 18.2% during the second quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock valued at $1,165,868,000 after buying an additional 2,180,693 shares during the last quarter. Finally, Boston Partners boosted its position in shares of Wells Fargo & Company by 1.9% during the third quarter. Boston Partners now owns 9,128,470 shares of the financial services provider’s stock valued at $763,675,000 after buying an additional 174,350 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Wells Fargo & Company

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Insider Activity at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Kleber Santos sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $87.72, for a total transaction of $2,193,000.00. Following the completion of the sale, the executive vice president directly owned 79,876 shares of the company’s stock, valued at approximately $7,006,722.72. This represents a 23.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ellen R. Patterson sold 60,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the completion of the transaction, the executive vice president owned 169,496 shares in the company, valued at $14,813,950.40. The trade was a 26.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 115,000 shares of company stock worth $10,050,000. 0.14% of the stock is owned by company insiders.

Wells Fargo & Company Stock Up 3.5%

WFC stock opened at $79.52 on Wednesday. The company has a market cap of $245.38 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 0.82 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.90 and a current ratio of 0.90. The business’s 50-day moving average is $84.20 and its two-hundred day moving average is $86.25. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $97.76.

Wells Fargo & Company (NYSE:WFCGet Free Report) last released its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The business had revenue of $21.29 billion during the quarter, compared to the consensus estimate of $21.63 billion. During the same period in the previous year, the company posted $1.43 EPS. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Friday, February 6th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, February 6th. Wells Fargo & Company’s payout ratio is 28.71%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WFC shares. JPMorgan Chase & Co. boosted their target price on Wells Fargo & Company from $99.00 to $99.50 and gave the stock a “neutral” rating in a research report on Monday, February 9th. UBS Group reaffirmed a “buy” rating and set a $113.00 price target on shares of Wells Fargo & Company in a report on Wednesday, February 4th. HSBC reiterated a “hold” rating and issued a $74.00 price target on shares of Wells Fargo & Company in a research note on Wednesday, January 7th. CICC Research initiated coverage on shares of Wells Fargo & Company in a report on Wednesday, January 14th. They set a “market perform” rating and a $96.00 price objective for the company. Finally, Wolfe Research restated an “outperform” rating and set a $109.00 price objective on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.13.

Get Our Latest Stock Report on Wells Fargo & Company

Wells Fargo & Company Profile

(Free Report)

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

Further Reading

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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