Carret Asset Management LLC Has $1.94 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Carret Asset Management LLC trimmed its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,397 shares of the financial services provider’s stock after selling 875 shares during the period. Carret Asset Management LLC’s holdings in Wells Fargo & Company were worth $1,936,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Wells Fargo & Company during the fourth quarter worth about $2,623,044,000. LSV Asset Management boosted its position in Wells Fargo & Company by 40.4% in the fourth quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider’s stock valued at $458,162,000 after buying an additional 2,677,050 shares in the last quarter. Morningstar Investment Services LLC grew its stake in shares of Wells Fargo & Company by 103.7% during the fourth quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock worth $189,684,000 after buying an additional 1,951,477 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Wells Fargo & Company by 42.7% during the fourth quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock worth $285,668,000 after buying an additional 1,729,132 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in shares of Wells Fargo & Company by 91.5% in the 4th quarter. 1832 Asset Management L.P. now owns 3,503,169 shares of the financial services provider’s stock valued at $172,426,000 after acquiring an additional 1,673,917 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Down 0.5 %

WFC stock traded down $0.31 during midday trading on Wednesday, reaching $60.66. 6,693,411 shares of the company’s stock traded hands, compared to its average volume of 18,370,785. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The firm’s fifty day moving average price is $59.54 and its 200-day moving average price is $55.30. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. The company has a market cap of $211.48 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 1.46 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 EPS. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.13 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were issued a $0.35 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.31%. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Jefferies Financial Group lifted their price target on shares of Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Compass Point restated a “neutral” rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Fourteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus price target of $59.36.

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.