Paradigm Asset Management Co. LLC Has $2.58 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Paradigm Asset Management Co. LLC cut its stake in Wells Fargo & Company (NYSE:WFC) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,402 shares of the financial services provider’s stock after selling 1,300 shares during the period. Wells Fargo & Company makes up 0.7% of Paradigm Asset Management Co. LLC’s holdings, making the stock its 22nd largest position. Paradigm Asset Management Co. LLC’s holdings in Wells Fargo & Company were worth $2,579,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. IPG Investment Advisors LLC boosted its stake in shares of Wells Fargo & Company by 103.5% during the 4th quarter. IPG Investment Advisors LLC now owns 25,968 shares of the financial services provider’s stock worth $1,278,000 after buying an additional 13,209 shares during the last quarter. United Services Automobile Association boosted its stake in shares of Wells Fargo & Company by 9.5% during the 4th quarter. United Services Automobile Association now owns 107,249 shares of the financial services provider’s stock worth $5,279,000 after buying an additional 9,343 shares during the last quarter. Bell & Brown Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $4,677,000. Mitchell Sinkler & Starr PA boosted its stake in shares of Wells Fargo & Company by 3.2% during the 4th quarter. Mitchell Sinkler & Starr PA now owns 56,875 shares of the financial services provider’s stock worth $2,799,000 after buying an additional 1,750 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $18,612,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of WFC traded up $0.53 during mid-day trading on Monday, hitting $60.21. 9,913,000 shares of the company’s stock were exchanged, compared to its average volume of 18,429,924. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. The stock’s 50-day simple moving average is $59.03 and its 200-day simple moving average is $52.56. The firm has a market cap of $209.91 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 1.59 and a beta of 1.18. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14.

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

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.33%. Wells Fargo & Company’s dividend payout ratio is 29.23%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WFC. Morgan Stanley upped their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Evercore ISI upped their target price on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Finally, Argus upped their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a report on Monday, April 15th. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.