Perennial Investment Advisors LLC Purchases 176 Shares of Wells Fargo & Company (NYSE:WFC)

Perennial Investment Advisors LLC raised its position in Wells Fargo & Company (NYSE:WFC) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,368 shares of the financial services provider’s stock after buying an additional 176 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $658,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WFC. Norges Bank purchased a new stake in Wells Fargo & Company during the fourth quarter valued at about $3,365,658,000. Nordea Investment Management AB raised its position in shares of Wells Fargo & Company by 10.1% in the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after purchasing an additional 575,892 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Wells Fargo & Company by 6.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,464,967 shares of the financial services provider’s stock valued at $389,707,000 after buying an additional 352,821 shares in the last quarter. Korea Investment CORP boosted its holdings in Wells Fargo & Company by 53.9% in the 4th quarter. Korea Investment CORP now owns 3,286,809 shares of the financial services provider’s stock worth $230,865,000 after buying an additional 1,150,443 shares during the period. Finally, Brandywine Global Investment Management LLC grew its stake in Wells Fargo & Company by 0.6% in the 4th quarter. Brandywine Global Investment Management LLC now owns 3,107,610 shares of the financial services provider’s stock valued at $218,279,000 after buying an additional 18,214 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WFC. Keefe, Bruyette & Woods lifted their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Compass Point upped their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Citigroup lowered their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. JPMorgan Chase & Co. reduced their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a research note on Thursday. Finally, Barclays increased their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus target price of $75.50.

Wells Fargo & Company Trading Down 7.2 %

Shares of WFC opened at $60.91 on Friday. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The firm has a market cap of $198.89 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.18 and a beta of 1.02. The firm has a 50 day moving average price of $74.93 and a 200-day moving average price of $70.56. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during 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 company’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 earnings per share. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

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

Wells Fargo & 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.