Wells Fargo & Company (NYSE:WFC) Shares Sold by Mystic Asset Management Inc.

Mystic Asset Management Inc. trimmed its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 28,285 shares of the financial services provider’s stock after selling 710 shares during the quarter. Mystic Asset Management Inc.’s holdings in Wells Fargo & Company were worth $1,987,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in WFC. Two Sigma Advisers LP raised its holdings in shares of 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 valued at $336,375,000 after purchasing an additional 5,237,500 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Wells Fargo & Company by 158.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock worth $153,069,000 after buying an additional 1,659,716 shares during the last quarter. Artemis Investment Management LLP lifted its holdings in Wells Fargo & Company by 410.8% during the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock worth $96,567,000 after buying an additional 1,105,679 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in Wells Fargo & Company by 81.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider’s stock worth $111,914,000 after buying an additional 889,953 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Wells Fargo & Company by 63.1% in the fourth quarter. KBC Group NV now owns 1,962,302 shares of the financial services provider’s stock valued at $137,832,000 after purchasing an additional 758,893 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $70.88 on Tuesday. The stock has a fifty day moving average price of $75.87 and a 200 day moving average price of $69.11. The stock has a market cap of $233.07 billion, a PE ratio of 13.17, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year 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.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 earnings per share. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share 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 paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on WFC shares. UBS Group upped their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods boosted their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Barclays lifted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. 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 report on Thursday, January 16th. Finally, Citigroup upped their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average 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.