Johnson Financial Group Inc. Sells 12,015 Shares of Wells Fargo & Company (NYSE:WFC)

Johnson Financial Group Inc. reduced its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 27.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,665 shares of the financial services provider's stock after selling 12,015 shares during the period. Johnson Financial Group Inc.'s holdings in Wells Fargo & Company were worth $2,224,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of WFC. Rialto Wealth Management LLC acquired a new position in Wells Fargo & Company during the 4th quarter valued at $26,000. Investment Counsel Co. of Nevada acquired a new position in Wells Fargo & Company during the 4th quarter valued at $28,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company during the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. acquired a new position in Wells Fargo & Company during the 4th quarter valued at $30,000. Finally, Rakuten Securities Inc. raised its stake in Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 237 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 1.8 %

Shares of Wells Fargo & Company stock traded up $1.24 on Thursday, hitting $72.25. 8,041,457 shares of the company's stock traded hands, compared to its average volume of 17,852,326. The firm's 50-day moving average price is $69.52 and its two-hundred day moving average price is $71.67. The stock has a market capitalization of $235.92 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.15 billion during the quarter, compared to analysts' expectations of $20.82 billion. During the same quarter in the previous year, the company posted $1.20 EPS. The business's revenue for the quarter was down 3.4% compared to the same quarter last year. On average, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company announced that its board has approved a share buyback plan on Tuesday, April 29th that permits the company to repurchase $40.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 17.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 9th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Friday, May 9th. Wells Fargo & Company's dividend payout ratio is currently 28.73%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WFC. Bank of America decreased their price objective on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Barclays decreased their price objective on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Raymond James decreased their price objective on Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating on the stock in a report on Monday, April 14th. Citigroup decreased their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Finally, Truist Financial cut their target price on shares of Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Six equities research 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, Wells Fargo & Company presently has an average rating of "Moderate Buy" and a consensus price target of $75.34.

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.