Pacer Advisors Inc. Sells 69,733 Shares of Wells Fargo & Company $WFC

Pacer Advisors Inc. lowered its position in Wells Fargo & Company (NYSE:WFC) by 18.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 298,325 shares of the financial services provider’s stock after selling 69,733 shares during the period. Pacer Advisors Inc.’s holdings in Wells Fargo & Company were worth $27,804,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of WFC. Godfrey Financial Associates Inc. bought a new position in Wells Fargo & Company in the 4th quarter valued at about $25,000. Miller Capital Partners Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $25,000. Navalign LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $26,000. Joseph Group Capital Management bought a new stake in Wells Fargo & Company during the fourth quarter worth $28,000. Finally, Core Wealth Advisors LLC bought a new stake in Wells Fargo & Company during the fourth quarter worth $29,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 0.1%

Shares of Wells Fargo & Company stock opened at $82.31 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $251.89 billion, a P/E ratio of 12.70, a P/E/G ratio of 0.96 and a beta of 0.93. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76. The stock’s 50-day simple moving average is $79.70 and its 200 day simple moving average is $84.59.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.02. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The firm had revenue of $11.62 billion during the quarter, compared to the consensus estimate of $21.85 billion. During the same quarter last year, the company earned $1.39 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. As a group, research analysts anticipate that Wells Fargo & Company will post 6.86 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.80 annualized dividend and a yield of 2.2%. Wells Fargo & Company’s dividend payout ratio (DPR) is 27.78%.

Analysts Set New Price Targets

Several analysts have recently issued reports on WFC shares. Truist Financial reduced their target price on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “buy” rating for the company in a research note on Tuesday, March 17th. Evercore reaffirmed an “outperform” rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. The Goldman Sachs Group dropped their target price on shares of Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average target price of $98.24.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.