Generali Investments Management Co LLC Invests $1.21 Million in Wells Fargo & Company (NYSE:WFC)

Generali Investments Management Co LLC acquired a new position in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,156 shares of the financial services provider’s stock, valued at approximately $1,205,000.

Several other large investors have also recently made changes to their positions in WFC. MidAtlantic Capital Management Inc. acquired a new stake in Wells Fargo & Company during the 3rd quarter worth approximately $34,000. Caprock Group LLC lifted its holdings in Wells Fargo & Company by 1.5% during the 3rd quarter. Caprock Group LLC now owns 83,671 shares of the financial services provider’s stock worth $4,727,000 after buying an additional 1,214 shares in the last quarter. OneAscent Financial Services LLC acquired a new stake in Wells Fargo & Company during the 3rd quarter worth approximately $1,131,000. Prospera Financial Services Inc lifted its holdings in Wells Fargo & Company by 19.8% during the 3rd quarter. Prospera Financial Services Inc now owns 138,432 shares of the financial services provider’s stock worth $7,820,000 after buying an additional 22,854 shares in the last quarter. Finally, Wrapmanager Inc. lifted its holdings in Wells Fargo & Company by 2.3% during the 3rd quarter. Wrapmanager Inc. now owns 33,844 shares of the financial services provider’s stock worth $1,912,000 after buying an additional 768 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Citigroup raised their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Compass Point raised their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods raised their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Finally, Truist Financial raised their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus price target of $74.39.

Wells Fargo & Company Trading Up 0.3 %

Shares of Wells Fargo & Company stock opened at $71.08 on Wednesday. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. 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 company has a market capitalization of $233.72 billion, a P/E ratio of 13.21, a PEG ratio of 1.18 and a beta of 1.16. The company’s fifty day moving average is $75.86 and its two-hundred day moving average is $69.19.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the firm posted $0.86 EPS. Analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is 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.