Wells Fargo & Company (NYSE:WFC) Stock Holdings Lowered by Wealth Management Partners LLC

Wealth Management Partners LLC lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 45.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,677 shares of the financial services provider’s stock after selling 3,037 shares during the period. Wealth Management Partners LLC’s holdings in Wells Fargo & Company were worth $264,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Empowered Funds LLC lifted its holdings in Wells Fargo & Company by 19.1% in the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock worth $13,369,000 after purchasing an additional 30,510 shares during the period. Valmark Advisers Inc. lifted its holdings in Wells Fargo & Company by 5.5% in the fourth quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider’s stock worth $583,000 after purchasing an additional 431 shares during the period. NatWest Group plc lifted its holdings in Wells Fargo & Company by 57.7% in the 4th quarter. NatWest Group plc now owns 172,484 shares of the financial services provider’s stock valued at $12,115,000 after acquiring an additional 63,102 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Wells Fargo & Company in the 4th quarter valued at about $1,656,000. Finally, Modera Wealth Management LLC lifted its holdings in Wells Fargo & Company by 14.1% in the 4th quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider’s stock valued at $1,444,000 after acquiring an additional 2,548 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Thursday, March 13th. Bank of America upped their price target on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday. Phillip Securities raised shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, April 14th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Evercore ISI upped their price objective on shares of Wells Fargo & Company from $72.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.48.

Wells Fargo & Company Price Performance

NYSE WFC opened at $75.43 on Thursday. The company has a 50 day simple moving average of $70.26 and a 200-day simple moving average of $72.94. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market capitalization of $245.46 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. 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 issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.16. The firm had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.20 earnings per share. Equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Friday, May 9th. Wells Fargo & Company’s payout ratio is presently 28.73%.

Wells Fargo & Company declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 29th that allows the company to buyback $40.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 17.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

About Wells Fargo & Company

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.