Zuckerman Investment Group LLC Has $700,000 Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Zuckerman Investment Group LLC decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,968 shares of the financial services provider’s stock after selling 415 shares during the period. Zuckerman Investment Group LLC’s holdings in Wells Fargo & Company were worth $700,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Rialto Wealth Management LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth about $26,000. Rakuten Securities Inc. boosted its holdings in Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 237 shares during the period. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $30,000. McClarren Financial Advisors Inc. purchased a new position in Wells Fargo & Company during the 4th quarter valued at $30,000. Finally, Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company during the fourth quarter valued at $32,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $66.52 on Thursday. The business’s 50 day moving average price is $73.47 and its 200 day moving average price is $70.74. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market cap of $217.20 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS. On average, research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.41%. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Analysts Set New Price Targets

WFC has been the topic of a number of research analyst reports. Citigroup lowered their price target on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Barclays upped their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods lifted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Piper Sandler raised shares of Wells Fargo & Company from a “neutral” rating to an “overweight” rating and set a $77.00 price objective for the company in a report on Tuesday. Finally, Truist Financial decreased their target price on Wells Fargo & Company from $86.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average price target of $75.66.

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.