Sentry Investment Management LLC Sells 1,046 Shares of Wells Fargo & Company (NYSE:WFC)

Sentry Investment Management LLC lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 14.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,423 shares of the financial services provider’s stock after selling 1,046 shares during the quarter. Sentry Investment Management LLC’s holdings in Wells Fargo & Company were worth $451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Empowered Funds LLC boosted its holdings in shares of Wells Fargo & Company by 19.1% in the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock valued at $13,369,000 after buying an additional 30,510 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in Wells Fargo & Company by 37.2% in the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock valued at $36,055,000 after acquiring an additional 173,083 shares in the last quarter. Atlantic Union Bankshares Corp boosted its stake in Wells Fargo & Company by 17.4% in the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock valued at $10,031,000 after acquiring an additional 26,320 shares in the last quarter. Chartwell Investment Partners LLC grew its holdings in Wells Fargo & Company by 16.4% in the third quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock worth $7,504,000 after purchasing an additional 18,717 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Wells Fargo & Company by 14.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider’s stock worth $58,055,000 after purchasing an additional 131,322 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on WFC shares. The Goldman Sachs Group raised their price objective 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. Compass Point raised their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Barclays upped their price objective 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. Evercore ISI lifted their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Eleven 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, Wells Fargo & Company presently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Trading Down 0.5 %

Wells Fargo & Company stock opened at $77.10 on Tuesday. 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 firm has a market cap of $256.72 billion, a PE ratio of 14.33, a P/E/G ratio of 1.18 and a beta of 1.18. The stock’s 50 day simple moving average is $75.30 and its two-hundred day simple moving average is $67.28. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly 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. 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 for the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the prior year, the firm posted $0.86 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

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.