Louisiana State Employees Retirement System Lowers Holdings in Wells Fargo & Company (NYSE:WFC)

Louisiana State Employees Retirement System decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 6.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 179,100 shares of the financial services provider’s stock after selling 12,500 shares during the period. Louisiana State Employees Retirement System’s holdings in Wells Fargo & Company were worth $12,580,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. TCV Trust & Wealth Management Inc. purchased a new position in Wells Fargo & Company in the 4th quarter valued at approximately $244,000. Sonata Capital Group Inc. acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $219,000. Sather Financial Group Inc lifted its stake in shares of Wells Fargo & Company by 153.8% during the 4th quarter. Sather Financial Group Inc now owns 23,983 shares of the financial services provider’s stock worth $1,685,000 after purchasing an additional 14,532 shares during the period. Leavell Investment Management Inc. lifted its position in Wells Fargo & Company by 8.4% during the fourth quarter. Leavell Investment Management Inc. now owns 23,132 shares of the financial services provider’s stock worth $1,625,000 after buying an additional 1,790 shares during the period. Finally, Portfolio Design Labs LLC lifted its holdings in shares of Wells Fargo & Company by 21.0% during the 4th quarter. Portfolio Design Labs LLC now owns 68,158 shares of the financial services provider’s stock worth $4,787,000 after acquiring an additional 11,844 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the topic of a number of research analyst reports. Truist Financial lifted their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Citigroup raised their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. The Goldman Sachs Group raised their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Keefe, Bruyette & Woods boosted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Finally, Barclays upped their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $79.66 on Wednesday. The firm’s 50-day simple moving average is $73.97 and its 200 day simple moving average is $65.64. The stock has a market cap of $265.23 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a fifty-two week low of $47.59 and a fifty-two week high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

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

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 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.