Johnson Financial Group Inc. Sells 12,015 Shares of Wells Fargo & Company (NYSE:WFC)

Johnson Financial Group Inc. trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 27.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 31,665 shares of the financial services provider’s stock after selling 12,015 shares during the period. Johnson Financial Group Inc.’s holdings in Wells Fargo & Company were worth $2,224,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Rialto Wealth Management LLC purchased a new stake in Wells Fargo & Company during the 4th quarter valued at $26,000. Investment Counsel Co. of Nevada purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth $28,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company during the fourth quarter valued at about $30,000. McClarren Financial Advisors Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. increased its stake in shares of Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Up 0.2 %

Shares of NYSE:WFC opened at $69.72 on Friday. The firm has a market capitalization of $227.65 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The business has a 50 day simple moving average of $70.01 and a two-hundred day simple moving average of $71.43. 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 current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.15 billion during the quarter, compared to analysts’ expectations of $20.82 billion. During the same quarter in the previous year, the business earned $1.20 EPS. Wells Fargo & Company’s revenue was down 3.4% compared to the same quarter last year. On average, equities analysts predict 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. Stockholders 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 2.29%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 28.73%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods upped their price target 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. Truist Financial cut their price objective on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. decreased their target price on Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Morgan Stanley raised their price target on Wells Fargo & Company from $79.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, April 7th. Finally, Bank of America decreased their price objective on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.34.

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.