RiverFront Investment Group LLC Has $7.69 Million Stake in Wells Fargo & Company (NYSE:WFC)

RiverFront Investment Group LLC lowered its stake in Wells Fargo & Company (NYSE:WFC) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,496 shares of the financial services provider’s stock after selling 6,998 shares during the period. RiverFront Investment Group LLC’s holdings in Wells Fargo & Company were worth $7,691,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of WFC. Rialto Wealth Management LLC bought a new stake in Wells Fargo & Company during the 4th quarter worth about $26,000. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company during the third quarter worth approximately $29,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at approximately $30,000. McClarren Financial Advisors Inc. bought a new position in Wells Fargo & Company in the fourth quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. grew its holdings in Wells Fargo & Company by 126.7% during the 4th 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 period. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Citigroup reduced their price target on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. The Goldman Sachs Group boosted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Barclays increased their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. 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 for the company in a research note on Thursday, March 13th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.97.

Wells Fargo & Company Stock Down 2.2 %

Wells Fargo & Company stock opened at $70.71 on Friday. The company has a fifty day simple moving average of $75.84 and a 200 day simple moving average of $69.92. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a market cap of $230.87 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 earnings per share. Research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced 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 yield of 2.26%. Wells Fargo & Company’s payout ratio is 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.