C2C Wealth Management LLC Raises Holdings in Wells Fargo & Company (NYSE:WFC)

C2C Wealth Management LLC boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,261 shares of the financial services provider’s stock after buying an additional 400 shares during the period. Wells Fargo & Company accounts for about 0.9% of C2C Wealth Management LLC’s investment portfolio, making the stock its 28th biggest holding. C2C Wealth Management LLC’s holdings in Wells Fargo & Company were worth $931,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $3,365,658,000. Two Sigma Advisers LP raised its stake in Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after buying an additional 5,237,500 shares during the last quarter. Artisan Partners Limited Partnership acquired a new stake in Wells Fargo & Company in the fourth quarter worth about $117,026,000. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Wells Fargo & Company by 158.1% in the 3rd 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 purchasing an additional 1,659,716 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Wells Fargo & Company in the 4th quarter worth approximately $85,031,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on WFC shares. Barclays upped their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods increased their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Citigroup dropped their target price on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. UBS Group raised their price target 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. Finally, Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.97.

Wells Fargo & Company Stock Down 2.2 %

NYSE WFC opened at $70.71 on Friday. The business’s fifty day simple moving average is $75.84 and its 200-day simple moving average is $70.03. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The firm has a market cap of $230.87 billion, a PE ratio of 13.14, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50.

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

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.26%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

About Wells Fargo & Company

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.