266,637 Shares in Wells Fargo & Company (NYSE:WFC) Bought by TCG Advisory Services LLC

TCG Advisory Services LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 266,637 shares of the financial services provider’s stock, valued at approximately $13,124,000. Wells Fargo & Company comprises approximately 0.9% of TCG Advisory Services LLC’s holdings, making the stock its 27th largest position.

Other institutional investors have also added to or reduced their stakes in the company. LSV Asset Management increased its holdings in shares of Wells Fargo & Company by 40.4% in the fourth quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider’s stock valued at $458,162,000 after purchasing an additional 2,677,050 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Wells Fargo & Company by 131.0% in the third 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 holdings in shares of Wells Fargo & Company by 42.7% in the fourth quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock valued at $285,668,000 after purchasing an additional 1,729,132 shares during the last quarter. Artemis Investment Management LLP boosted its position in shares of Wells Fargo & Company by 87.8% in the fourth 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 period. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Wells Fargo & Company in the third quarter valued at about $54,894,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 0.2 %

Shares of WFC stock traded up $0.11 during mid-day trading on Friday, reaching $59.94. 17,298,461 shares of the stock traded hands, compared to its average volume of 19,706,676. The stock’s fifty day simple moving average is $57.63 and its two-hundred day simple moving average is $50.23. Wells Fargo & Company has a 1-year low of $36.40 and a 1-year high of $61.76. 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 company has a market cap of $212.21 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 EPS. On average, research analysts anticipate that Wells Fargo & Company will post 5.08 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.34%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WFC. Jefferies Financial Group boosted their target price on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Piper Sandler reduced their target price on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, January 16th. Citigroup reissued a “neutral” rating and set a $63.00 target price (up from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Finally, Argus raised their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a report on Monday, April 15th. Fourteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and an average target price of $58.99.

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.