Oxford Financial Group LTD. LLC Reduces Position in Wells Fargo & Company (NYSE:WFC)

Oxford Financial Group LTD. LLC decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,459 shares of the financial services provider’s stock after selling 329 shares during the period. Oxford Financial Group LTD. LLC’s holdings in Wells Fargo & Company were worth $454,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of WFC. Prospera Private Wealth LLC purchased a new position in Wells Fargo & Company during the 3rd quarter worth $132,000. Strategy Asset Managers LLC acquired a new position in Wells Fargo & Company in the 3rd quarter valued at about $691,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Wells Fargo & Company by 21.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 546,624 shares of the financial services provider’s stock valued at $30,879,000 after acquiring an additional 98,015 shares during the last quarter. Moors & Cabot Inc. grew its stake in shares of Wells Fargo & Company by 1.3% in the 3rd quarter. Moors & Cabot Inc. now owns 51,733 shares of the financial services provider’s stock valued at $2,922,000 after purchasing an additional 651 shares during the last quarter. Finally, Citizens Financial Group Inc. RI increased its holdings in shares of Wells Fargo & Company by 4.1% in the third quarter. Citizens Financial Group Inc. RI now owns 167,011 shares of the financial services provider’s stock valued at $9,434,000 after purchasing an additional 6,631 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $72.50 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The business has a fifty day moving average of $75.90 and a 200-day moving average of $69.24. The stock has a market cap of $238.38 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

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

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.21%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Analysts Set New Price Targets

A number of research firms recently weighed in on WFC. Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Thursday, March 13th. Piper Sandler raised their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. UBS Group boosted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Truist Financial increased their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $74.39.

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.