Slagle Financial LLC Sells 818 Shares of Wells Fargo & Company (NYSE:WFC)

Slagle Financial LLC reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 14.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,769 shares of the financial services provider’s stock after selling 818 shares during the period. Slagle Financial LLC’s holdings in Wells Fargo & Company were worth $335,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Norges Bank purchased a new position in Wells Fargo & Company in the 4th quarter valued at approximately $3,365,658,000. Two Sigma Advisers LP grew its position in shares of Wells Fargo & Company by 730.4% in the third 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. Artisan Partners Limited Partnership bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $117,026,000. 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 purchasing an additional 1,659,716 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Wells Fargo & Company during the 4th quarter valued at about $85,031,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Thursday, March 13th. Keefe, Bruyette & Woods upped their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Morgan Stanley lifted their price target 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. Compass Point upped their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group lifted their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.18.

Wells Fargo & Company Stock Down 1.6 %

Wells Fargo & Company stock opened at $72.33 on Friday. 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 has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The company has a market cap of $236.17 billion, a PE ratio of 13.44, a PEG ratio of 1.18 and a beta of 1.16. The business’s 50-day simple moving average is $75.97 and its two-hundred day simple moving average is $69.80.

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 analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion during 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%. Wells Fargo & Company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm posted $0.86 EPS. Equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.21%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wells Fargo & 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.