Aigen Investment Management LP Increases Stake in Wells Fargo & Company (NYSE:WFC)

Aigen Investment Management LP increased its stake in Wells Fargo & Company (NYSE:WFC) by 35.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 13,935 shares of the financial services provider’s stock after acquiring an additional 3,671 shares during the quarter. Aigen Investment Management LP’s holdings in Wells Fargo & Company were worth $979,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Truvestments Capital LLC purchased a new position in shares of Wells Fargo & Company in the 3rd quarter valued at about $29,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company during the 4th quarter valued at about $30,000. McClarren Financial Advisors Inc. purchased a new position in Wells Fargo & Company during the 4th quarter valued at about $30,000. Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company during the 4th quarter valued at about $32,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in Wells Fargo & Company during the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Barclays raised their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Citigroup raised their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods raised their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Finally, UBS Group raised their target price 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. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Price Performance

WFC opened at $74.20 on Thursday. The company’s 50 day simple moving average is $76.08 and its 200 day simple moving average is $68.28. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The stock has a market capitalization of $243.97 billion, a PE ratio of 13.79, a P/E/G ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period last year, the company earned $0.86 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. As a group, sell-side analysts expect 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 was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.16%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

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.