Advisory Resource Group Acquires Shares of 3,228 Wells Fargo & Company (NYSE:WFC)

Advisory Resource Group purchased a new stake in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,228 shares of the financial services provider’s stock, valued at approximately $227,000.

A number of other institutional investors have also modified their holdings of WFC. Two Sigma Advisers LP grew its stake in shares of Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after purchasing an additional 5,237,500 shares during the period. Canoe Financial LP acquired a new stake in Wells Fargo & Company during the third quarter valued at $160,529,000. Caisse DE Depot ET Placement DU Quebec increased its holdings in Wells Fargo & Company by 158.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock valued at $153,069,000 after buying an additional 1,659,716 shares in the last quarter. Artemis Investment Management LLP raised its position in shares of Wells Fargo & Company by 410.8% in the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock worth $96,567,000 after acquiring an additional 1,105,679 shares during the period. Finally, National Pension Service boosted its stake in shares of Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after acquiring an additional 897,195 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

WFC has been the subject of several recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a research note on Monday, October 14th. Truist Financial increased their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Compass Point boosted their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley upped their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Trading Down 0.8 %

Shares of WFC opened at $80.76 on Friday. Wells Fargo & Company has a 12-month low of $47.47 and a 12-month high of $81.50. The firm has a market capitalization of $268.89 billion, a P/E ratio of 15.01, a P/E/G ratio of 1.22 and a beta of 1.18. The firm has a 50-day moving average price of $73.89 and a 200 day moving average price of $65.43. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly 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. The business had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.86 EPS. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 1.98%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wells Fargo & Company 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.