Wells Fargo & Company (NYSE:WFC) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,846 shares of the financial services provider’s stock after selling 554 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Wells Fargo & Company were worth $6,732,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Fifth Third Wealth Advisors LLC increased its holdings in shares of Wells Fargo & Company by 7.7% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 49,301 shares of the financial services provider’s stock valued at $3,463,000 after purchasing an additional 3,520 shares during the period. R.H. Investment Group LLC acquired a new position in Wells Fargo & Company in the 4th quarter worth approximately $5,056,000. Pines Wealth Management LLC purchased a new position in Wells Fargo & Company during the 4th quarter worth approximately $473,000. SeaCrest Wealth Management LLC lifted its stake in Wells Fargo & Company by 18.0% during the 4th quarter. SeaCrest Wealth Management LLC now owns 21,621 shares of the financial services provider’s stock valued at $1,519,000 after acquiring an additional 3,305 shares during the period. Finally, Accurate Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $582,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 1.7 %

Shares of NYSE WFC opened at $77.22 on Monday. Wells Fargo & Company has a 1 year low of $46.12 and a 1 year high of $78.13. The firm’s 50 day moving average price is $72.74 and its 200 day moving average price is $63.46. The firm has a market cap of $257.11 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the prior year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.45 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. Evercore ISI lifted their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. UBS Group upped their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Truist Financial lifted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday. Finally, Citigroup increased their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.