Wells Fargo & Company (NYSE:WFC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,774,242 shares of the financial services provider’s stock after selling 113,433 shares during the quarter. Principal Financial Group Inc. owned 0.11% of Wells Fargo & Company worth $265,103,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of WFC. Truvestments Capital LLC purchased a new position in shares of Wells Fargo & Company during the third quarter valued at approximately $29,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company during the fourth quarter worth about $30,000. McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company in the 4th quarter worth about $30,000. Decker Retirement Planning Inc. purchased a new stake in Wells Fargo & Company in the 4th quarter valued at about $32,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Wells Fargo & Company during the 3rd quarter valued at about $34,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

WFC opened at $79.68 on Tuesday. Wells Fargo & Company has a twelve month low of $48.62 and a twelve month high of $81.50. The firm has a market cap of $265.29 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 1.22 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a fifty day simple moving average of $74.41 and a 200 day simple moving average of $66.19.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 earnings per share. Equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis 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%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Barclays boosted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Citigroup upped their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods lifted their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Piper Sandler upped their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, The Goldman Sachs Group lifted their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target of $73.39.

About Wells Fargo & Company

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.