Wealthspire Advisors LLC Has $1.66 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Wealthspire Advisors LLC raised its position in Wells Fargo & Company (NYSE:WFC) by 11.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 23,611 shares of the financial services provider’s stock after purchasing an additional 2,507 shares during the quarter. Wealthspire Advisors LLC’s holdings in Wells Fargo & Company were worth $1,658,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. National Pension Service increased its holdings in Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after purchasing an additional 897,195 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of Wells Fargo & Company by 2.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock worth $375,183,000 after purchasing an additional 162,066 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Wells Fargo & Company by 10.1% in the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after buying an additional 575,892 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after buying an additional 5,237,500 shares during the last quarter. Finally, Canoe Financial LP acquired a new position in Wells Fargo & Company during the 3rd quarter worth about $160,529,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $77.10 on Tuesday. The stock’s fifty day simple moving average is $75.30 and its 200 day simple moving average is $67.28. 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 company has a market capitalization of $256.72 billion, a PE ratio of 14.33, a PEG ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter last year, the firm posted $0.86 earnings per share. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. On average, research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 29.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on WFC shares. The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. UBS Group raised their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Barclays upped their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Morgan Stanley boosted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods raised their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and an average price target 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.