Securian Asset Management Inc. Cuts Stake in Wells Fargo & Company $WFC

Key Points

• Securian Asset Management cut its Wells Fargo stake by 44.8% in the fourth quarter, selling 69,350 shares and leaving it with 85,357 shares worth about $7.96 million.
• Wells Fargo’s recent updates were broadly positive: Phillip Securities upgraded the stock to “strong-buy,” and commentary highlighted improving loan growth, shareholder returns, and customer activity. Several analysts still rate the stock favorably, with a consensus target price of $97.53.
• The bank reported Q1 earnings of $1.60 per share, topping estimates, and also declared a quarterly dividend of $0.45 per share, equal to a 2.4% annualized yield. However, insiders sold stock in recent months, and some options traders showed bearish or hedging activity.

Securian Asset Management Inc. lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 44.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,357 shares of the financial services provider's stock after selling 69,350 shares during the period. Securian Asset Management Inc.'s holdings in Wells Fargo & Company were worth $7,955,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Redmont Wealth Advisors LLC purchased a new stake in Wells Fargo & Company during the 3rd quarter valued at about $27,000. Marquette Asset Management LLC grew its stake in Wells Fargo & Company by 472.4% during the 3rd quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 274 shares in the last quarter. Joseph Group Capital Management purchased a new stake in Wells Fargo & Company during the 4th quarter valued at about $28,000. Grey Fox Wealth Advisors LLC purchased a new stake in Wells Fargo & Company during the 3rd quarter valued at about $30,000. Finally, Imprint Wealth LLC purchased a new stake in Wells Fargo & Company during the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company News Roundup

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Phillip Securities upgraded Wells Fargo & Company (WFC) from “moderate buy” to “strong-buy,” reinforcing the view that the bank’s turnaround and earnings strength still have room to run.
• Positive Sentiment: Market commentary noted that Wells Fargo’s comeback looks real, supported by accelerating loan growth, rising shareholder returns, and stronger customer activity, which could help sustain investor confidence. Wells Fargo’s Comeback Is Real—But Not Risk-Free
• Positive Sentiment: Additional article coverage framed WFC as a potentially attractive dividend stock, which may appeal to income-focused investors looking for a large-cap financial name with improving fundamentals. Wells Fargo (WFC) Could Be a Great Choice
• Neutral Sentiment: There was also heavy put option activity in Wells Fargo, with traders buying 82,048 puts versus a typical volume of 59,215, suggesting some hedging or bearish positioning despite the recent positive coverage.
• Neutral Sentiment: Separately, Wells Fargo has been active on the research side across other stocks, including a downgrade of Nike and higher price targets on Arm Holdings, but those calls are not direct catalysts for WFC shares.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $75.57 on Monday. The firm has a 50 day simple moving average of $80.47 and a 200-day simple moving average of $86.11. Wells Fargo & Company has a 1-year low of $71.89 and a 1-year high of $97.76. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $231.26 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 0.89 and a beta of 0.96.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.02. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The business had revenue of $11.62 billion during the quarter, compared to analysts' expectations of $21.85 billion. During the same quarter in the prior year, the company posted $1.39 EPS. The business's revenue for the quarter was up 6.4% on a year-over-year basis. On average, analysts expect that Wells Fargo & Company will post 6.82 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.4%. Wells Fargo & Company's dividend payout ratio is 27.78%.

Insider Activity

In other news, EVP Bridget E. Engle sold 30,000 shares of the company's stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.10, for a total value of $2,613,000.00. Following the transaction, the executive vice president directly owned 83,478 shares in the company, valued at approximately $7,270,933.80. This represents a 26.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kleber Santos sold 25,000 shares of the company's stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $87.72, for a total transaction of $2,193,000.00. Following the completion of the transaction, the executive vice president owned 79,876 shares in the company, valued at approximately $7,006,722.72. This represents a 23.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 115,000 shares of company stock valued at $10,050,000 in the last 90 days. Company insiders own 0.14% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on WFC. Jefferies Financial Group began coverage on shares of Wells Fargo & Company in a research note on Thursday, March 26th. They set a "buy" rating and a $100.00 price objective for the company. KGI Securities cut shares of Wells Fargo & Company to a "hold" rating in a research note on Thursday, April 16th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Wells Fargo & Company in a research note on Monday, April 20th. Wall Street Zen cut shares of Wells Fargo & Company from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. Finally, Truist Financial dropped their price objective on shares of Wells Fargo & Company from $98.00 to $94.00 and set a "buy" rating for the company in a research note on Tuesday, March 17th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $97.53.

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.

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.