Insigneo Advisory Services LLC Decreases Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Insigneo Advisory Services LLC cut its holdings in Wells Fargo & Company (NYSE:WFC) by 46.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,397 shares of the financial services provider’s stock after selling 13,285 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Wells Fargo & Company were worth $1,081,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of WFC. Rialto Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $26,000. Investment Counsel Co. of Nevada purchased a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $28,000. Modus Advisors LLC purchased a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $30,000. McClarren Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. boosted its holdings in shares of Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WFC. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research report on Thursday, March 13th. Truist Financial dropped their price target on shares of Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a research note on Monday. Piper Sandler reduced their price objective on shares of Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday. Citigroup cut their target price on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Finally, Bank of America decreased their price target on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.34.

Wells Fargo & Company Price Performance

NYSE WFC opened at $63.98 on Thursday. The firm’s fifty day simple moving average is $71.82 and its two-hundred day simple moving average is $70.93. The firm has a market capitalization of $208.90 billion, a P/E ratio of 11.89, a P/E/G ratio of 1.18 and a beta of 1.02. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.16. The company had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.20 EPS. Analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 28.73%.

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.