LGT Group Foundation Decreases Stake in Wells Fargo & Company (NYSE:WFC)

LGT Group Foundation cut its holdings in Wells Fargo & Company (NYSE:WFC) by 36.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,658 shares of the financial services provider’s stock after selling 20,153 shares during the quarter. LGT Group Foundation’s holdings in Wells Fargo & Company were worth $2,505,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of WFC. Truvestments Capital LLC acquired a new position in Wells Fargo & Company during the third quarter worth $29,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth $30,000. McClarren Financial Advisors Inc. acquired a new position in Wells Fargo & Company during the fourth quarter worth $30,000. Decker Retirement Planning Inc. acquired a new position in Wells Fargo & Company during the fourth quarter worth $32,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in Wells Fargo & Company during the third quarter worth $34,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $76.96 on Tuesday. The company has a market cap of $253.06 billion, a P/E ratio of 14.30, a P/E/G ratio of 1.18 and a beta of 1.18. 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 has a 52 week low of $50.15 and a 52 week high of $81.50. The business has a fifty day simple moving average of $76.00 and a 200-day simple moving average of $68.11.

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 (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. Equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. UBS Group lifted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Compass Point lifted their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods boosted their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Truist Financial boosted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Citigroup boosted their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and an average target price of $73.39.

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.