Wells Fargo & Company (NYSE:WFC) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 14.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,423 shares of the financial services provider’s stock after selling 1,046 shares during the period. Sentry Investment Management LLC’s holdings in Wells Fargo & Company were worth $451,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. purchased a new stake in Wells Fargo & Company during the 3rd quarter worth approximately $637,000. Assenagon Asset Management S.A. boosted its stake in shares of Wells Fargo & Company by 8.3% in the third quarter. Assenagon Asset Management S.A. now owns 96,400 shares of the financial services provider’s stock worth $5,446,000 after acquiring an additional 7,415 shares during the last quarter. Arkadios Wealth Advisors boosted its stake in shares of Wells Fargo & Company by 19.5% in the third quarter. Arkadios Wealth Advisors now owns 19,801 shares of the financial services provider’s stock worth $1,119,000 after acquiring an additional 3,228 shares during the last quarter. Modera Wealth Management LLC increased its position in shares of Wells Fargo & Company by 0.9% during the third quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 167 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its stake in Wells Fargo & Company by 22.9% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 38,981 shares of the financial services provider’s stock valued at $2,202,000 after purchasing an additional 7,276 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on WFC shares. UBS Group lifted their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods boosted their price target on shares of 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. Compass Point increased their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Piper Sandler boosted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Barclays upped their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Stock Down 0.5 %

NYSE:WFC opened at $77.10 on Tuesday. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The stock’s fifty day moving average is $75.30 and its two-hundred day moving average is $67.28. The stock has a market capitalization of $256.72 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the previous year, the business earned $0.86 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. Research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared 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 2.08%. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Wells Fargo & Company Profile

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.