Generali Investments Management Co LLC Takes Position in Wells Fargo & Company (NYSE:WFC)

Generali Investments Management Co LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,156 shares of the financial services provider’s stock, valued at approximately $1,205,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WFC. MidAtlantic Capital Management Inc. acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at about $34,000. Caprock Group LLC lifted its stake in shares of Wells Fargo & Company by 1.5% in the third quarter. Caprock Group LLC now owns 83,671 shares of the financial services provider’s stock valued at $4,727,000 after purchasing an additional 1,214 shares during the period. OneAscent Financial Services LLC acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at about $1,131,000. Prospera Financial Services Inc lifted its stake in shares of Wells Fargo & Company by 19.8% in the third quarter. Prospera Financial Services Inc now owns 138,432 shares of the financial services provider’s stock valued at $7,820,000 after purchasing an additional 22,854 shares during the period. Finally, Wrapmanager Inc. lifted its stake in shares of Wells Fargo & Company by 2.3% in the third quarter. Wrapmanager Inc. now owns 33,844 shares of the financial services provider’s stock valued at $1,912,000 after purchasing an additional 768 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on WFC shares. UBS Group raised their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Piper Sandler raised their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Truist Financial lifted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. 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 report on Thursday, January 16th. Finally, Citigroup lifted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.39.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $71.08 on Wednesday. The company has a market cap of $233.72 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. 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 50-day simple moving average of $75.86 and a 200-day simple moving average of $69.19.

Wells Fargo & Company (NYSE:WFC) last issued 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 net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the previous year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. Wells Fargo & Company’s payout ratio 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.