MetLife Investment Management LLC Sells 5,534 Shares of Wells Fargo & Company (NYSE:WFC)

MetLife Investment Management LLC cut its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 881,314 shares of the financial services provider's stock after selling 5,534 shares during the quarter. MetLife Investment Management LLC's holdings in Wells Fargo & Company were worth $61,903,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Natixis boosted its holdings in shares of Wells Fargo & Company by 14.6% during the fourth quarter. Natixis now owns 1,140,934 shares of the financial services provider's stock valued at $80,139,000 after acquiring an additional 145,678 shares during the period. Norinchukin Bank The increased its holdings in shares of Wells Fargo & Company by 6.7% during the fourth quarter. Norinchukin Bank The now owns 148,491 shares of the financial services provider's stock valued at $10,430,000 after purchasing an additional 9,306 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Wells Fargo & Company by 1,465.3% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 208,451 shares of the financial services provider's stock valued at $14,642,000 after purchasing an additional 195,134 shares during the period. Beck Mack & Oliver LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at about $251,000. Finally, Capital International Inc. CA lifted its holdings in Wells Fargo & Company by 40.0% in the fourth quarter. Capital International Inc. CA now owns 280,097 shares of the financial services provider's stock worth $19,674,000 after purchasing an additional 79,986 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 3.0 %

Shares of Wells Fargo & Company stock traded up $1.98 on Wednesday, hitting $68.21. 13,026,333 shares of the company traded hands, compared to its average volume of 17,485,588. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company has a market cap of $222.72 billion, a PE ratio of 12.68, a PEG ratio of 1.18 and a beta of 1.02. The company has a 50-day moving average price of $70.67 and a 200 day moving average price of $71.28.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.16. The company had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business's revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.20 EPS. Sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is presently 28.73%.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Raymond James decreased their target price on Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating for the company in a research note on Monday, April 14th. Barclays cut their price target on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Bank of America reduced their target price on shares of Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Finally, Royal Bank of Canada raised Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target on the stock in a report on Thursday, March 13th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $75.34.

Wells Fargo & Company 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.