Desjardins Global Asset Management Inc. Sells 5,992 Shares of Wells Fargo & Company (NYSE:WFC)

Desjardins Global Asset Management Inc. lowered its position in Wells Fargo & Company (NYSE:WFC) by 59.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,039 shares of the financial services provider’s stock after selling 5,992 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Wells Fargo & Company were worth $199,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth $2,049,693,000. Northern Trust Corp grew its holdings in shares of Wells Fargo & Company by 0.3% in the third quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock worth $1,560,755,000 after acquiring an additional 129,300 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in shares of Wells Fargo & Company by 129,312.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock worth $1,085,410,000 after acquiring an additional 26,267,166 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Wells Fargo & Company by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 21,901,706 shares of the financial services provider’s stock worth $1,061,357,000 after acquiring an additional 64,080 shares during the period. Finally, Pzena Investment Management LLC grew its holdings in shares of Wells Fargo & Company by 1.9% in the third quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock worth $746,484,000 after acquiring an additional 335,560 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $58.74 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $207.96 billion, a P/E ratio of 12.26, a P/E/G ratio of 1.11 and a beta of 1.19. Wells Fargo & Company has a 12 month low of $36.40 and a 12 month high of $59.13. The business’s 50-day moving average is $55.63 and its 200 day moving average is $48.68.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.23 earnings per share. On average, equities research analysts forecast that Wells Fargo & Company will post 5.04 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were given a dividend of $0.35 per share. The ex-dividend date was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a yield of 2.38%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Analysts Set New Price Targets

WFC has been the subject of several recent research reports. Compass Point reissued a “neutral” rating and set a $64.00 price target on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a report on Monday. Evercore ISI boosted their price target on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $51.00 price target on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Finally, Odeon Capital Group lowered Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target for the company. in a report on Thursday, January 18th. Thirteen analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.