Horizon Investments LLC Has $5.54 Million Stake in Wells Fargo & Company (NYSE:WFC)

Horizon Investments LLC lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 1.6% during the 4th quarter, Holdings Channel reports. The fund owned 79,320 shares of the financial services provider’s stock after acquiring an additional 1,267 shares during the quarter. Horizon Investments LLC’s holdings in Wells Fargo & Company were worth $5,544,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of WFC. Rialto Wealth Management LLC acquired a new position in Wells Fargo & Company in the fourth quarter worth $26,000. Truvestments Capital LLC acquired a new position in Wells Fargo & Company during the 3rd quarter worth about $29,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company during the 4th quarter worth about $30,000. McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company in the 4th quarter valued at about $30,000. Finally, Rakuten Securities Inc. raised its stake in shares of Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 237 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $70.88 on Tuesday. The firm has a market cap of $233.07 billion, a P/E ratio of 13.17, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month 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. The firm’s 50 day moving average price is $75.87 and its two-hundred day moving average price is $69.11.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same period in the prior year, the business earned $0.86 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. Wells Fargo & Company’s payout ratio is presently 29.74%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on WFC shares. UBS Group raised their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Citigroup boosted their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Morgan Stanley raised their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Finally, Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Thursday, March 13th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.39.

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.