Wells Fargo & Company (NYSE:WFC) Shares Sold by CarsonAllaria Wealth Management Ltd.

CarsonAllaria Wealth Management Ltd. cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 15.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,230 shares of the financial services provider’s stock after selling 757 shares during the period. CarsonAllaria Wealth Management Ltd.’s holdings in Wells Fargo & Company were worth $297,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Truvestments Capital LLC purchased a new stake in Wells Fargo & Company in the third quarter valued at about $29,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $30,000. Decker Retirement Planning Inc. purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $32,000. MidAtlantic Capital Management Inc. acquired a new stake in Wells Fargo & Company in the 3rd quarter worth approximately $34,000. Finally, FSA Wealth Management LLC purchased a new stake in Wells Fargo & Company during the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $79.56 on Wednesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a fifty day moving average of $73.61 and a 200 day moving average of $64.92. The firm has a market cap of $264.88 billion, a PE ratio of 14.79, a PEG ratio of 1.19 and a beta of 1.18. Wells Fargo & Company has a one year low of $47.45 and a one year high of $79.85.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, research analysts predict that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Morgan Stanley increased their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods lifted their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Finally, Citigroup increased their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.