Wells Fargo & Company (NYSE:WFC) Shares Bought by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,516 shares of the financial services provider’s stock after purchasing an additional 1,518 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Wells Fargo & Company were worth $4,321,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in WFC. Rialto Wealth Management LLC purchased a new position in Wells Fargo & Company in the 4th quarter valued at about $26,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter valued at about $30,000. McClarren Financial Advisors Inc. purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $30,000. Rakuten Securities Inc. grew its holdings in Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 237 shares in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on WFC. The Goldman Sachs Group upped their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Morgan Stanley set a $79.00 target price on Wells Fargo & Company in a research report on Monday, March 24th. 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 report on Wednesday. Barclays lifted their target price 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. Finally, UBS Group raised their price target 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. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $75.55.

Wells Fargo & Company Stock Down 7.5 %

WFC traded down $5.39 on Thursday, hitting $66.87. The company had a trading volume of 13,140,653 shares, compared to its average volume of 17,093,658. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The stock has a fifty day simple moving average of $75.50 and a 200-day simple moving average of $70.43. The firm has a market capitalization of $218.34 billion, a P/E ratio of 12.43, 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.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the previous year, the company earned $0.86 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wells Fargo & 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.