Wells Fargo & Company (NYSE:WFC) Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP lessened its stake in Wells Fargo & Company (NYSE:WFC) by 72.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,131 shares of the financial services provider’s stock after selling 33,987 shares during the period. Aigen Investment Management LP’s holdings in Wells Fargo & Company were worth $646,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. United Services Automobile Association raised its holdings in Wells Fargo & Company by 13.7% in the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock worth $4,000,000 after purchasing an additional 11,825 shares during the period. Synovus Financial Corp raised its holdings in Wells Fargo & Company by 61.7% in the 3rd quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock worth $4,983,000 after purchasing an additional 46,525 shares during the period. Trust Point Inc. acquired a new position in Wells Fargo & Company in the 4th quarter worth about $2,499,000. WealthPlan Investment Management LLC raised its holdings in Wells Fargo & Company by 2,174.3% in the 3rd quarter. WealthPlan Investment Management LLC now owns 21,287 shares of the financial services provider’s stock worth $870,000 after purchasing an additional 20,351 shares during the period. Finally, G2 Capital Management LLC OH acquired a new position in Wells Fargo & Company in the 4th quarter worth about $278,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WFC. Jefferies Financial Group upped their price target on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, April 8th. JPMorgan Chase & Co. boosted their price objective on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Citigroup reiterated a “neutral” rating and set a $63.00 price objective (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Finally, Morgan Stanley boosted their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Fourteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $58.99.

Wells Fargo & Company Trading Down 0.6 %

Shares of Wells Fargo & Company stock opened at $60.54 on Thursday. The firm has a market capitalization of $211.06 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.62 and a beta of 1.18. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a 50 day moving average of $58.93 and a 200 day moving average of $52.21.

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

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.31%. Wells Fargo & Company’s payout ratio is 29.23%.

Wells Fargo & 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.