Unison Asset Management LLC Has $7.01 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Unison Asset Management LLC cut its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 97,615 shares of the financial services provider's stock after selling 8,310 shares during the quarter. Wells Fargo & Company accounts for 4.0% of Unison Asset Management LLC's investment portfolio, making the stock its 10th largest holding. Unison Asset Management LLC's holdings in Wells Fargo & Company were worth $7,008,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Shakespeare Wealth Management LLC grew its position in Wells Fargo & Company by 0.9% in the 4th quarter. Shakespeare Wealth Management LLC now owns 13,839 shares of the financial services provider's stock worth $972,000 after purchasing an additional 130 shares during the period. MONECO Advisors LLC grew its stake in shares of Wells Fargo & Company by 1.9% during the 4th quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider's stock valued at $493,000 after purchasing an additional 134 shares during the period. Safeguard Investment Advisory Group LLC increased its position in shares of Wells Fargo & Company by 2.4% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider's stock valued at $410,000 after purchasing an additional 137 shares during the last quarter. Crown Wealth Group LLC increased its position in shares of Wells Fargo & Company by 2.2% during the 4th quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider's stock valued at $467,000 after purchasing an additional 140 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC grew its position in Wells Fargo & Company by 0.6% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 22,501 shares of the financial services provider's stock valued at $1,580,000 after buying an additional 144 shares during the period. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

WFC traded up $1.11 during trading hours on Tuesday, hitting $78.12. The company's stock had a trading volume of 16,327,778 shares, compared to its average volume of 17,312,195. The stock has a market cap of $254.22 billion, a price-to-earnings ratio of 14.03, a P/E/G ratio of 1.26 and a beta of 1.16. The business's 50-day moving average price is $72.70 and its 200-day moving average price is $72.88. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 16.19% and a return on equity of 12.15%. The firm had revenue of $20.15 billion for the quarter, compared to analysts' expectations of $20.82 billion. During the same period in the prior year, the company earned $1.20 EPS. The business's revenue was down 3.4% compared to the same quarter last year. Sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Friday, May 9th. Wells Fargo & Company's payout ratio is 28.73%.

Wells Fargo & Company announced that its Board of Directors has initiated a share repurchase program on Tuesday, April 29th that authorizes the company to repurchase $40.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 17.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have weighed in on WFC shares. Raymond James Financial reiterated a "strong-buy" rating on shares of Wells Fargo & Company in a research report on Wednesday, June 18th. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. The Goldman Sachs Group boosted their price target on Wells Fargo & Company from $76.00 to $86.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. JPMorgan Chase & Co. decreased their price objective on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Finally, TD Cowen started coverage on Wells Fargo & Company in a research note on Thursday, May 15th. They set a "hold" rating and a $83.00 price objective for the company. 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 company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $77.98.

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.