Kestra Investment Management LLC Buys 703 Shares of Wells Fargo & Company (NYSE:WFC)

Kestra Investment Management LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 9.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,273 shares of the financial services provider’s stock after purchasing an additional 703 shares during the quarter. Kestra Investment Management LLC’s holdings in Wells Fargo & Company were worth $581,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WFC. Braun Stacey Associates Inc. increased its stake in Wells Fargo & Company by 6.0% in the 4th quarter. Braun Stacey Associates Inc. now owns 409,900 shares of the financial services provider’s stock worth $28,791,000 after acquiring an additional 23,035 shares during the last quarter. GAM Holding AG purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $1,034,000. Venturi Wealth Management LLC raised its holdings in shares of Wells Fargo & Company by 166.4% in the 4th quarter. Venturi Wealth Management LLC now owns 7,388 shares of the financial services provider’s stock valued at $519,000 after acquiring an additional 4,615 shares in the last quarter. Empower Advisory Group LLC raised its holdings in shares of Wells Fargo & Company by 19.4% in the 4th quarter. Empower Advisory Group LLC now owns 95,081 shares of the financial services provider’s stock valued at $6,678,000 after acquiring an additional 15,473 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. raised its holdings in shares of Wells Fargo & Company by 0.8% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 28,011 shares of the financial services provider’s stock valued at $1,967,000 after acquiring an additional 230 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Barclays raised their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Citigroup raised their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Piper Sandler raised their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Morgan Stanley raised their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, UBS Group raised their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Price Performance

WFC opened at $80.71 on Wednesday. The stock’s 50 day simple moving average is $74.72 and its 200 day simple moving average is $66.55. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The firm has a market cap of $268.72 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 1.22 and a beta of 1.18.

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

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.98%. Wells Fargo & Company’s dividend payout ratio is currently 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.