Murphy Pohlad Asset Management LLC Sells 1,000 Shares of Wells Fargo & Company (NYSE:WFC)

Murphy Pohlad Asset Management LLC trimmed its position in Wells Fargo & Company (NYSE:WFC) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,733 shares of the financial services provider’s stock after selling 1,000 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in Wells Fargo & Company were worth $1,316,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Two Sigma Advisers LP grew its stake in Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after buying an additional 5,237,500 shares in the last quarter. Canoe Financial LP purchased a new position in Wells Fargo & Company in the third quarter worth $160,529,000. Caisse DE Depot ET Placement DU Quebec increased its stake in Wells Fargo & Company by 158.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock valued at $153,069,000 after acquiring an additional 1,659,716 shares during the last quarter. Artemis Investment Management LLP raised its position in Wells Fargo & Company by 410.8% during the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock valued at $96,567,000 after purchasing an additional 1,105,679 shares in the last quarter. Finally, National Pension Service lifted its stake in Wells Fargo & Company by 15.2% during the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after purchasing an additional 897,195 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Morgan Stanley increased their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Evercore ISI upped their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price target for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Finally, Piper Sandler upped their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Up 0.7 %

Shares of NYSE:WFC opened at $78.41 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a fifty day simple moving average of $73.35 and a two-hundred day simple moving average of $64.38. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $78.98. The stock has a market capitalization of $261.07 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 1.17 and a beta of 1.18.

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, topping the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 EPS. On average, research analysts anticipate that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be given a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.04%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wells Fargo & Company 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.