Heritage Family Offices LLP Acquires 19,869 Shares of Wells Fargo & Company $WFC

Key Points

• Heritage Family Offices LLP boosted its stake in Wells Fargo by 153.7% in Q4, buying 19,869 shares to hold 32,800 shares worth $3.057 million, about 1.4% of its portfolio and its 13th largest holding.
• Insiders have been net sellers: EVP Kleber Santos sold 25,000 shares and EVP Bridget E. Engle sold 30,000 shares in February, and insiders sold 115,000 shares worth $10.05 million over the past 90 days (insiders own 0.08% of the company).
• Recent fundamentals: Wells Fargo beat Q4 EPS estimates ($1.76 vs. $1.66), pays a $0.45 quarterly dividend (≈2.3% yield), trades around $79.61, and carries a consensus "Moderate Buy" rating with an average price target of $96.82.

Heritage Family Offices LLP raised its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 153.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 32,800 shares of the financial services provider's stock after purchasing an additional 19,869 shares during the period. Wells Fargo & Company makes up approximately 1.4% of Heritage Family Offices LLP's portfolio, making the stock its 13th biggest holding. Heritage Family Offices LLP's holdings in Wells Fargo & Company were worth $3,057,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Redmont Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company in the third quarter valued at approximately $27,000. Marquette Asset Management LLC grew its holdings in Wells Fargo & Company by 472.4% during the third quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider's stock worth $28,000 after buying an additional 274 shares in the last quarter. Grey Fox Wealth Advisors LLC bought a new stake in Wells Fargo & Company during the third quarter worth $30,000. Imprint Wealth LLC purchased a new stake in Wells Fargo & Company in the 3rd quarter valued at $31,000. Finally, Kilter Group LLC purchased a new stake in Wells Fargo & Company in the 2nd quarter valued at $31,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Wells Fargo & Company news, EVP Kleber Santos sold 25,000 shares of the business's stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $87.72, for a total value of $2,193,000.00. Following the transaction, the executive vice president directly owned 79,876 shares in the company, valued at $7,006,722.72. The trade was a 23.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bridget E. Engle sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the transaction, the executive vice president directly owned 83,478 shares of the company's stock, valued at $7,270,933.80. This represents a 26.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 115,000 shares of company stock worth $10,050,000. Insiders own 0.08% of the company's stock.

Wells Fargo & Company Stock Up 1.7%

WFC stock opened at $79.61 on Wednesday. The stock has a market cap of $245.64 billion, a P/E ratio of 12.70, a P/E/G ratio of 0.85 and a beta of 1.08. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.05. The stock's fifty day simple moving average is $85.17 and its two-hundred day simple moving average is $86.32. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $97.76.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.10. The firm had revenue of $21.29 billion during the quarter, compared to analyst estimates of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The business's revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $1.43 EPS. Analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Friday, February 6th were given a dividend of $0.45 per share. The ex-dividend date was Friday, February 6th. This represents a $1.80 annualized dividend and a yield of 2.3%. Wells Fargo & Company's dividend payout ratio is presently 28.71%.

Analyst Ratings Changes

Several equities analysts have weighed in on WFC shares. Freedom Capital cut Wells Fargo & Company from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 15th. Robert W. Baird upgraded shares of Wells Fargo & Company from an "underperform" rating to a "neutral" rating and set a $85.00 target price for the company in a research note on Friday, February 13th. Truist Financial dropped their price target on shares of Wells Fargo & Company from $98.00 to $94.00 and set a "buy" rating on the stock in a research report on Tuesday, March 17th. Wolfe Research restated an "outperform" rating and set a $109.00 price target on shares of Wells Fargo & Company in a report on Wednesday, January 7th. Finally, Barclays boosted their price target on shares of Wells Fargo & Company from $94.00 to $113.00 and gave the stock an "overweight" rating in a report on Monday, January 5th. Thirteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $96.82.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

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