D L Carlson Investment Group Inc. Sells 420 Shares of Wells Fargo & Company (NYSE:WFC)

D L Carlson Investment Group Inc. cut its holdings in Wells Fargo & Company (NYSE:WFC) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,055 shares of the financial services provider’s stock after selling 420 shares during the quarter. D L Carlson Investment Group Inc.’s holdings in Wells Fargo & Company were worth $3,165,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC grew its holdings in shares of Wells Fargo & Company by 19.1% during the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock valued at $13,369,000 after purchasing an additional 30,510 shares during the last quarter. Valmark Advisers Inc. increased its holdings in shares of Wells Fargo & Company by 5.5% during the fourth quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider’s stock worth $583,000 after buying an additional 431 shares in the last quarter. NatWest Group plc increased its holdings in shares of Wells Fargo & Company by 57.7% during the fourth quarter. NatWest Group plc now owns 172,484 shares of the financial services provider’s stock worth $12,115,000 after buying an additional 63,102 shares in the last quarter. Weiss Asset Management LP bought a new position in shares of Wells Fargo & Company in the 3rd quarter valued at $10,451,000. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter valued at about $1,656,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on WFC. Keefe, Bruyette & Woods upped their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. UBS Group increased their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Royal Bank of Canada upgraded 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 report on Thursday, March 13th. Morgan Stanley lifted their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Citigroup cut their target price 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. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.97.

Wells Fargo & Company Trading Down 2.2 %

Shares of Wells Fargo & Company stock opened at $70.71 on Monday. The company has a market capitalization 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. The stock has a fifty day simple moving average of $75.84 and a 200 day simple moving average of $70.14. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. 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 (NYSE:WFC) last announced its 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. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared 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 dividend payout ratio (DPR) is currently 29.74%.

About Wells Fargo & Company

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.