CarsonAllaria Wealth Management Ltd. Reduces Position in Wells Fargo & Company (NYSE:WFC)

CarsonAllaria Wealth Management Ltd. trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 15.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,230 shares of the financial services provider’s stock after selling 757 shares during the quarter. CarsonAllaria Wealth Management Ltd.’s holdings in Wells Fargo & Company were worth $297,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Truvestments Capital LLC purchased a new position in Wells Fargo & Company during the third quarter worth approximately $29,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth $30,000. Decker Retirement Planning Inc. acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth $32,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Wells Fargo & Company during the 3rd quarter valued at about $34,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company in the third quarter valued at about $34,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $79.56 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market cap of $264.88 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18. The stock’s 50-day moving average is $73.61 and its two-hundred day moving average is $64.92. Wells Fargo & Company has a 1-year low of $47.45 and a 1-year high of $79.85.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period in the prior year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. Analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.01%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WFC. Morgan Stanley lifted their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price target for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. The Goldman Sachs Group increased their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. UBS Group upped their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Keefe, Bruyette & Woods raised their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.