Empowered Funds LLC Has $13.37 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Empowered Funds LLC boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 19.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 190,330 shares of the financial services provider’s stock after purchasing an additional 30,510 shares during the quarter. Empowered Funds LLC’s holdings in Wells Fargo & Company were worth $13,369,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company in the 3rd quarter valued at about $29,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $30,000. Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $32,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Wells Fargo & Company in the 3rd quarter valued at about $34,000. Finally, FSA Wealth Management LLC acquired a new position in shares of Wells Fargo & Company in the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.8 %

WFC opened at $80.76 on Friday. Wells Fargo & Company has a 1-year low of $47.47 and a 1-year high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $268.89 billion, a price-to-earnings ratio of 15.01, a P/E/G ratio of 1.22 and a beta of 1.18. The business has a 50 day moving average of $73.89 and a 200-day moving average of $65.43.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 earnings per share. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.98%. Wells Fargo & Company’s payout ratio is 29.74%.

Analysts Set New Price Targets

WFC has been the topic of a number of research reports. UBS Group upped their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Citigroup boosted their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Morgan Stanley boosted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Evercore ISI boosted their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a research note on Monday, October 14th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $73.39.

About Wells Fargo & Company

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.