Intech Investment Management LLC Decreases Holdings in Wells Fargo & Company (NYSE:WFC)

Intech Investment Management LLC reduced its stake in Wells Fargo & Company (NYSE:WFC) by 68.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,651 shares of the financial services provider's stock after selling 457,317 shares during the period. Intech Investment Management LLC's holdings in Wells Fargo & Company were worth $10,467,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in WFC. Johnson Financial Group Inc. grew its stake in shares of Wells Fargo & Company by 14.7% in the fourth quarter. Johnson Financial Group Inc. now owns 38,342 shares of the financial services provider's stock valued at $1,887,000 after buying an additional 4,920 shares in the last quarter. Skopos Labs Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $1,031,000. Hoylecohen LLC raised its stake in shares of Wells Fargo & Company by 5.8% during the fourth quarter. Hoylecohen LLC now owns 28,469 shares of the financial services provider's stock valued at $1,401,000 after purchasing an additional 1,569 shares during the period. HCR Wealth Advisors raised its stake in shares of Wells Fargo & Company by 11.9% during the fourth quarter. HCR Wealth Advisors now owns 11,396 shares of the financial services provider's stock valued at $561,000 after purchasing an additional 1,215 shares during the period. Finally, ProVise Management Group LLC lifted its position in shares of Wells Fargo & Company by 1.5% during the fourth quarter. ProVise Management Group LLC now owns 337,317 shares of the financial services provider's stock worth $16,603,000 after purchasing an additional 4,949 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

WFC traded up $0.53 during trading hours on Friday, hitting $60.21. 9,913,040 shares of the stock were exchanged, compared to its average volume of 16,097,602. The stock has a 50-day simple moving average of $59.03 and a 200-day simple moving average of $52.47. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The stock has a market cap of $209.91 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 1.57 and a beta of 1.18. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to analysts' expectations of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the business posted $1.23 earnings per share. Analysts anticipate that Wells Fargo & Company will post 5.08 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, May 9th. Wells Fargo & Company's payout ratio is 29.23%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WFC. HSBC lifted their price target on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a "hold" rating in a research note on Thursday, March 28th. StockNews.com upgraded Wells Fargo & Company from a "sell" rating to a "hold" rating in a research note on Monday, April 15th. Morgan Stanley increased their price target on Wells Fargo & Company from $63.00 to $64.00 and gave the company an "overweight" rating in a report on Monday, April 15th. JPMorgan Chase & Co. lifted their price objective on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a "neutral" rating in a report on Wednesday, May 1st. Finally, Evercore ISI increased their target price on Wells Fargo & Company from $58.00 to $67.00 and gave the company an "outperform" rating in a research note on Thursday, March 28th. Fourteen investment 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 company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $58.99.

Wells Fargo & Company 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.

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