Wells Fargo & Company (NYSE:WFC) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC decreased its position in Wells Fargo & Company (NYSE:WFC) by 1.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 517,192 shares of the financial services provider’s stock after selling 7,833 shares during the quarter. New York Life Investment Management LLC’s holdings in Wells Fargo & Company were worth $25,456,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in WFC. Panagora Asset Management Inc. raised its stake in Wells Fargo & Company by 131.0% in the 3rd quarter. Panagora Asset Management Inc. now owns 3,453,854 shares of the financial services provider’s stock valued at $141,124,000 after purchasing an additional 1,958,483 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Wells Fargo & Company by 42.7% during the 4th quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock valued at $285,668,000 after acquiring an additional 1,729,132 shares during the last quarter. Artemis Investment Management LLP increased its stake in shares of Wells Fargo & Company by 87.8% during the 4th quarter. Artemis Investment Management LLP now owns 3,314,853 shares of the financial services provider’s stock valued at $163,160,000 after acquiring an additional 1,549,979 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter valued at about $54,894,000. Finally, Canada Pension Plan Investment Board increased its stake in shares of Wells Fargo & Company by 37.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 4,260,350 shares of the financial services provider’s stock valued at $174,078,000 after acquiring an additional 1,166,000 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.3 %

Shares of Wells Fargo & Company stock traded up $0.20 on Wednesday, hitting $59.52. 16,250,370 shares of the company’s stock traded hands, compared to its average volume of 19,023,162. 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 stock has a market cap of $210.72 billion, a P/E ratio of 12.43, a PEG ratio of 1.16 and a beta of 1.19. Wells Fargo & Company has a 52-week low of $36.40 and a 52-week high of $61.76. The firm’s 50-day moving average is $57.24 and its 200 day moving average is $49.97.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.23 EPS. Equities analysts anticipate that Wells Fargo & Company will post 5.06 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Analysts Set New Price Targets

WFC has been the subject of a number of research analyst reports. Robert W. Baird reaffirmed a “neutral” rating and set a $55.00 price objective on shares of Wells Fargo & Company in a research note on Monday, January 8th. Citigroup reiterated a “neutral” rating and set a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Morgan Stanley boosted their target price on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Odeon Capital Group cut Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 target price for the company. in a report on Thursday, January 18th. Finally, The Goldman Sachs Group boosted their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Fourteen analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $58.99.

About Wells Fargo & Company

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.