Todd Asset Management LLC Reduces Stock Holdings in Wells Fargo & Company $WFC

Todd Asset Management LLC cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 18.3% during the third quarter, Holdings Channel.com reports. The firm owned 290,680 shares of the financial services provider’s stock after selling 65,106 shares during the quarter. Todd Asset Management LLC’s holdings in Wells Fargo & Company were worth $24,365,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Access Investment Management LLC purchased a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at approximately $25,000. Marquette Asset Management LLC grew its holdings in shares of Wells Fargo & Company by 472.4% in the third quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 274 shares in the last quarter. Grey Fox Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company in the third quarter worth $30,000. Kilter Group LLC acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at $31,000. Finally, Main Street Group LTD boosted its holdings in Wells Fargo & Company by 36.9% in the third quarter. Main Street Group LTD now owns 438 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 118 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 0.8%

WFC stock opened at $86.94 on Monday. The stock has a market cap of $272.92 billion, a P/E ratio of 13.87, a PEG ratio of 0.95 and a beta of 1.09. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.05. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $97.76. The company’s 50 day moving average is $91.80 and its two-hundred day moving average is $85.93.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. The firm had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $1.43 EPS. Research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 6th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, February 6th. Wells Fargo & Company’s payout ratio is currently 28.71%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WFC shares. JPMorgan Chase & Co. increased their price target on Wells Fargo & Company from $99.00 to $99.50 and gave the company a “neutral” rating in a research report on Monday, February 9th. TD Cowen reduced their target price on shares of Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, January 15th. Dbs Bank upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. UBS Group reissued a “buy” rating and issued a $113.00 price objective on shares of Wells Fargo & Company in a research report on Wednesday, February 4th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Wells Fargo & Company from $92.00 to $101.00 and gave the company a “market perform” rating in a report on Wednesday, December 17th. Thirteen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.03.

Wells Fargo & Company Company Profile

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.