Northstar Group Inc. Invests $244,000 in Wells Fargo & Company (NYSE:WFC)

Northstar Group Inc. bought a new position in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,474 shares of the financial services provider’s stock, valued at approximately $244,000.

Several other large investors have also added to or reduced their stakes in WFC. NatWest Group plc boosted its position in Wells Fargo & Company by 57.7% in the fourth quarter. NatWest Group plc now owns 172,484 shares of the financial services provider’s stock valued at $12,115,000 after buying an additional 63,102 shares during the last quarter. Exane Asset Management acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $97,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth $2,509,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Wells Fargo & Company by 3.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 425,905 shares of the financial services provider’s stock valued at $29,916,000 after purchasing an additional 15,690 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its position in Wells Fargo & Company by 25.1% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 15,529 shares of the financial services provider’s stock worth $1,091,000 after purchasing an additional 3,111 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WFC. The Goldman Sachs Group upped their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Evercore ISI raised their price objective 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. Truist Financial boosted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Piper Sandler raised their price target 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. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Down 0.8 %

Wells Fargo & Company stock opened at $80.76 on Friday. The stock’s fifty day moving average is $73.80 and its two-hundred day moving average is $65.28. The firm has a market capitalization of $268.89 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18. Wells Fargo & Company has a fifty-two week low of $47.47 and a fifty-two week 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.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The firm 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%. Wells Fargo & Company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.86 earnings per share. Analysts predict that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 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.