Hartford Funds Management Co LLC Invests $675,000 in Wells Fargo & Company (NYSE:WFC)

Hartford Funds Management Co LLC bought a new position in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 13,709 shares of the financial services provider’s stock, valued at approximately $675,000.

Other institutional investors have also made changes to their positions in the company. Fortis Group Advisors LLC acquired a new position in Wells Fargo & Company in the 3rd quarter valued at approximately $25,000. Arlington Trust Co LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. raised its holdings in shares of Wells Fargo & Company by 208.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 356,620 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in Wells Fargo & Company during the fourth quarter valued at $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $32,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Down 0.8 %

WFC stock traded down $0.48 during trading on Tuesday, hitting $59.32. The company had a trading volume of 18,007,381 shares, compared to its average volume of 19,055,352. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average price of $57.24 and a 200-day moving average price of $49.97. Wells Fargo & Company has a 12 month low of $36.40 and a 12 month high of $61.76. The stock has a market cap of $210.02 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.16 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter in the previous year, the company posted $1.23 EPS. Wells Fargo & Company’s revenue was up .6% on a year-over-year basis. As a group, analysts predict that Wells Fargo & Company will post 5.06 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.36%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WFC shares. Jefferies Financial Group lifted their price target on Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a report on Monday, April 8th. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Barclays raised their price target on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. The Goldman Sachs Group upped their price objective on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Thirteen analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.