Saxon Interests Inc. Has $287,000 Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Saxon Interests Inc. trimmed its position in Wells Fargo & Company (NYSE:WFC) by 7.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,080 shares of the financial services provider’s stock after selling 338 shares during the quarter. Saxon Interests Inc.’s holdings in Wells Fargo & Company were worth $287,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. WINTON GROUP Ltd bought a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at about $225,000. Edgestream Partners L.P. acquired a new position in shares of Wells Fargo & Company in the second quarter valued at approximately $272,000. Mercer Global Advisors Inc. ADV increased its position in shares of Wells Fargo & Company by 16.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 607,195 shares of the financial services provider’s stock worth $34,546,000 after acquiring an additional 86,777 shares in the last quarter. WCG Wealth Advisors LLC raised its holdings in shares of Wells Fargo & Company by 9.9% during the second quarter. WCG Wealth Advisors LLC now owns 46,982 shares of the financial services provider’s stock worth $2,790,000 after acquiring an additional 4,239 shares during the period. Finally, MQS Management LLC raised its stake in shares of Wells Fargo & Company by 61.1% in the 2nd quarter. MQS Management LLC now owns 9,990 shares of the financial services provider’s stock valued at $593,000 after purchasing an additional 3,790 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WFC has been the subject of several recent research reports. Compass Point upped their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Truist Financial upped their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group boosted their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Barclays raised 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 report on Thursday. Finally, The Goldman Sachs Group boosted their price target 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. Twelve research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and an average target price of $72.17.

Wells Fargo & Company Stock Up 0.2 %

WFC opened at $76.09 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock’s fifty day simple moving average is $72.47 and its 200 day simple moving average is $63.24. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13. The stock has a market cap of $253.32 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data 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. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. As a group, research analysts expect that Wells Fargo & Company will post 5.45 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s payout ratio is 33.26%.

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.