Los Angeles Capital Management LLC Sells 42,613 Shares of Wells Fargo & Company (NYSE:WFC)

Los Angeles Capital Management LLC decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 17.4% in the 4th quarter, Holdings Channel reports. The fund owned 201,806 shares of the financial services provider’s stock after selling 42,613 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Wells Fargo & Company were worth $14,175,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in WFC. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company during the third quarter worth $29,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth $30,000. McClarren Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth $30,000. Decker Retirement Planning Inc. bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth $32,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Wells Fargo & Company during the third quarter worth $34,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $75.95 on Wednesday. The company has a market capitalization of $252.87 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 1.18 and a beta of 1.18. 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 50-day simple moving average of $75.40 and a 200 day simple moving average of $67.44. 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 announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during 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%. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 EPS. On average, sell-side 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. Shareholders of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Evercore ISI raised their target price 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. Piper Sandler lifted their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Barclays lifted 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. UBS Group lifted their price target 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. Finally, Citigroup lifted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $73.39.

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.