Thompson Siegel & Walmsley LLC lowered its position in shares of Wells Fargo & Co (NYSE:WFC) by 36.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,432 shares of the financial services provider’s stock after selling 11,625 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Wells Fargo & Co were worth $1,126,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Telemark Asset Management LLC bought a new position in shares of Wells Fargo & Co during the fourth quarter worth approximately $8,267,000. Gyroscope Capital Management Group LLC bought a new position in shares of Wells Fargo & Co during the fourth quarter worth approximately $4,685,000. Good Life Advisors LLC bought a new position in shares of Wells Fargo & Co during the fourth quarter worth approximately $666,000. Asset Management One Co. Ltd. increased its position in shares of Wells Fargo & Co by 873.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 8,502,947 shares of the financial services provider’s stock worth $468,414,000 after buying an additional 7,629,019 shares during the last quarter. Finally, Greytown Advisors Inc. bought a new position in shares of Wells Fargo & Co during the fourth quarter worth approximately $285,000. 73.25% of the stock is currently owned by hedge funds and other institutional investors.
Wells Fargo & Co (NYSE:WFC) opened at 57.63 on Tuesday. The company’s 50-day moving average is $57.80 and its 200 day moving average is $52.28. Wells Fargo & Co has a 1-year low of $43.55 and a 1-year high of $59.99. The firm has a market capitalization of $288.34 billion, a PE ratio of 14.44 and a beta of 0.98.
Wells Fargo & Co (NYSE:WFC) last announced its earnings results on Friday, January 13th. The financial services provider reported $0.96 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by $0.04. Wells Fargo & Co had a net margin of 23.30% and a return on equity of 12.60%. The company earned $21.60 billion during the quarter. During the same quarter in the previous year, the firm earned $1.03 EPS. Wells Fargo & Co’s revenue was up .0% compared to the same quarter last year. On average, equities analysts expect that Wells Fargo & Co will post $4.20 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 3rd were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.64%. The ex-dividend date was Wednesday, February 1st. Wells Fargo & Co’s payout ratio is presently 38.10%.
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A number of brokerages recently commented on WFC. Credit Suisse Group AG reaffirmed a “hold” rating and set a $56.00 price objective on shares of Wells Fargo & Co in a research report on Friday, March 3rd. Zacks Investment Research downgraded shares of Wells Fargo & Co from a “buy” rating to a “hold” rating in a research report on Monday, February 6th. Argus downgraded shares of Wells Fargo & Co from a “buy” rating to a “hold” rating and boosted their price objective for the company from $53.00 to $53.78 in a research report on Wednesday, January 18th. FBR & Co reaffirmed a “market perform” rating and set a $55.00 price objective on shares of Wells Fargo & Co in a research report on Tuesday, January 17th. Finally, CLSA reaffirmed an “outperform” rating and set a $64.00 price objective on shares of Wells Fargo & Co in a research report on Friday, January 13th. Seven investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $53.01.
In other Wells Fargo & Co news, insider David M. Carroll sold 117,704 shares of the stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $59.02, for a total transaction of $6,946,890.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.
About Wells Fargo & Co
Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.
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