Wells Fargo & Company (NYSE:WFC) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its stake in Wells Fargo & Company (NYSE:WFC) by 7.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,379,187 shares of the financial services provider’s stock after selling 283,187 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.10% of Wells Fargo & Company worth $237,372,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Janus Henderson Group PLC raised its position in shares of Wells Fargo & Company by 0.3% in the third quarter. Janus Henderson Group PLC now owns 441,872 shares of the financial services provider’s stock worth $24,950,000 after acquiring an additional 1,300 shares during the period. IHT Wealth Management LLC raised its holdings in Wells Fargo & Company by 16.3% in the 3rd quarter. IHT Wealth Management LLC now owns 22,483 shares of the financial services provider’s stock worth $1,263,000 after purchasing an additional 3,155 shares during the period. Two Sigma Advisers LP boosted its position in Wells Fargo & Company by 730.4% during the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after purchasing an additional 5,237,500 shares in the last quarter. Weiss Asset Management LP acquired a new stake in Wells Fargo & Company in the third quarter valued at approximately $10,451,000. Finally, Voya Financial Advisors Inc. increased its position in shares of Wells Fargo & Company by 3.3% in the third quarter. Voya Financial Advisors Inc. now owns 38,070 shares of the financial services provider’s stock valued at $2,128,000 after buying an additional 1,232 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Barclays lifted 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 note on Thursday, January 16th. Truist Financial cut their target price on shares of Wells Fargo & Company from $86.00 to $84.00 and set a “buy” rating for the company in a research note on Friday. The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Bank of America cut their price objective on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Morgan Stanley set a $79.00 price target on Wells Fargo & Company in a research note on Monday, March 24th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.50.

Wells Fargo & Company Stock Down 7.2 %

Shares of NYSE WFC opened at $60.91 on Friday. The company has a market capitalization of $198.89 billion, a P/E ratio of 11.32, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company has a 50 day simple moving average of $74.93 and a 200-day simple moving average of $70.44. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The company 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%. The company’s revenue for the quarter 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. On average, equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 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.