Quilter Plc Sells 1,890 Shares of Wells Fargo & Company (NYSE:WFC)

Quilter Plc reduced its stake in Wells Fargo & Company (NYSE:WFC) by 11.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,323 shares of the financial services provider’s stock after selling 1,890 shares during the period. Quilter Plc’s holdings in Wells Fargo & Company were worth $1,076,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company during the third quarter valued at about $29,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $30,000. Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $32,000. MidAtlantic Capital Management Inc. purchased a new position in Wells Fargo & Company in the third quarter valued at about $34,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $34,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Down 0.8 %

Shares of Wells Fargo & Company stock opened at $80.76 on Monday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company has a 50-day moving average of $73.89 and a 200 day moving average of $65.47. The firm has a market cap of $268.89 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $47.47 and a 1 year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. During the same period last year, the business earned $0.86 EPS. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend 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%.

Analyst Ratings Changes

WFC has been the topic of several research reports. Truist Financial boosted their price target on shares of 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 upped their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. UBS Group upped their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Evercore ISI increased their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Barclays upped their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target of $73.39.

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.