Retirement Planning Co of New England Inc. Decreases Stock Position in Wells Fargo & Company (NYSE:WFC)

Retirement Planning Co of New England Inc. lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 18,290 shares of the financial services provider’s stock after selling 390 shares during the period. Retirement Planning Co of New England Inc.’s holdings in Wells Fargo & Company were worth $1,285,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Atlanta Consulting Group Advisors LLC bought a new position in Wells Fargo & Company in the 3rd quarter valued at $275,000. Claro Advisors LLC grew its position in Wells Fargo & Company by 15.6% in the 3rd quarter. Claro Advisors LLC now owns 16,109 shares of the financial services provider’s stock valued at $910,000 after acquiring an additional 2,173 shares during the last quarter. Aljian Capital Management LLC bought a new position in Wells Fargo & Company in the 3rd quarter valued at $513,000. GLOBALT Investments LLC GA bought a new position in Wells Fargo & Company in the 3rd quarter valued at $5,764,000. Finally, Aviso Wealth Management grew its position in shares of Wells Fargo & Company by 47.8% during the 3rd quarter. Aviso Wealth Management now owns 16,595 shares of the financial services provider’s stock worth $937,000 after buying an additional 5,368 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.0 %

Shares of NYSE:WFC opened at $70.88 on Tuesday. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The stock has a market cap of $233.07 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.18 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average price of $75.87 and a 200-day moving average price of $69.11.

Wells Fargo & Company (NYSE:WFC) last posted 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 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%. Wells Fargo & Company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the company earned $0.86 earnings per share. Equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Thursday, March 13th. Barclays upped their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods upped their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Citigroup upped their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, Piper Sandler upped their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $74.39.

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.