Wells Fargo & Company (NYSE:WFC) Stock Holdings Cut by Aviva PLC

Aviva PLC lessened its position in Wells Fargo & Company (NYSE:WFC) by 2.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,637,997 shares of the financial services provider’s stock after selling 39,319 shares during the period. Aviva PLC’s holdings in Wells Fargo & Company were worth $115,053,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Rialto Wealth Management LLC acquired a new stake in Wells Fargo & Company in the 4th quarter valued at about $26,000. Rakuten Securities Inc. raised its holdings in shares of Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares in the last quarter. Modus Advisors LLC acquired a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company during the fourth quarter worth approximately $30,000. Finally, Decker Retirement Planning Inc. acquired a new position in Wells Fargo & Company in the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC stock opened at $60.91 on Friday. The firm has a 50 day moving average of $74.93 and a two-hundred day moving average of $70.44. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company has a market capitalization of $198.89 billion, a price-to-earnings ratio of 11.32, a P/E/G ratio of 1.18 and a beta of 1.16. 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 (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 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 during the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the prior year, the company posted $0.86 earnings per share. Wells Fargo & Company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is 29.74%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Compass Point raised their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Bank of America dropped their price target on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley set a $79.00 target price on shares of Wells Fargo & Company in a report on Monday, March 24th. JPMorgan Chase & Co. cut their price target on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating on the stock in a report on Thursday. Finally, UBS Group raised their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and an average price target of $75.50.

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.