Wells Fargo & Company (NYSE:WFC) Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC trimmed its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,971,719 shares of the financial services provider's stock after selling 297,599 shares during the period. Wells Fargo & Company comprises 3.3% of Pzena Investment Management LLC's holdings, making the stock its 8th biggest holding. Pzena Investment Management LLC owned approximately 0.49% of Wells Fargo & Company worth $884,568,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. First Financial Corp IN lifted its holdings in shares of Wells Fargo & Company by 4.9% in the 4th quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider's stock worth $226,000 after buying an additional 214 shares during the period. CX Institutional grew its holdings in Wells Fargo & Company by 1.1% during the 4th quarter. CX Institutional now owns 20,280 shares of the financial services provider's stock worth $998,000 after acquiring an additional 217 shares in the last quarter. Cassaday & Co Wealth Management LLC increased its position in Wells Fargo & Company by 4.1% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,645 shares of the financial services provider's stock valued at $278,000 after purchasing an additional 224 shares during the period. ERTS Wealth Advisors LLC raised its holdings in shares of Wells Fargo & Company by 3.5% in the 4th quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider's stock valued at $331,000 after purchasing an additional 228 shares in the last quarter. Finally, One Capital Management LLC lifted its position in shares of Wells Fargo & Company by 0.6% in the 4th quarter. One Capital Management LLC now owns 36,268 shares of the financial services provider's stock worth $1,785,000 after purchasing an additional 228 shares during the period. Institutional investors own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WFC shares. Citigroup reissued a "neutral" rating and issued a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the company a "buy" rating in a research note on Monday, April 1st. Oppenheimer reissued a "market perform" rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Jefferies Financial Group lifted their price objective on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a "hold" rating in a research report on Monday, April 8th. Finally, HSBC increased their target price on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a "hold" rating in a research report on Thursday, March 28th. Fourteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Wells Fargo & Company has an average rating of "Hold" and a consensus target price of $58.99.

Wells Fargo & Company Stock Performance

Shares of WFC traded down $0.53 during mid-day trading on Wednesday, reaching $60.93. The company had a trading volume of 10,292,079 shares, compared to its average volume of 18,570,125. The stock has a 50 day moving average of $58.93 and a two-hundred day moving average of $52.21. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $212.42 billion, a P/E ratio of 12.72, a PEG ratio of 1.17 and a beta of 1.18. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same period in the previous year, the firm earned $1.23 EPS. The business's quarterly revenue was up .6% on a year-over-year basis. On average, analysts expect that Wells Fargo & Company will post 5.08 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.30%. The ex-dividend date is Thursday, May 9th. Wells Fargo & Company's payout ratio is currently 29.23%.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.