Migdal Insurance & Financial Holdings Ltd. Sells 6,751 Shares of Wells Fargo & Company (NYSE:WFC)

Migdal Insurance & Financial Holdings Ltd. trimmed its stake in Wells Fargo & Company (NYSE:WFC) by 24.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 21,037 shares of the financial services provider’s stock after selling 6,751 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Wells Fargo & Company were worth $1,037,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new stake in Wells Fargo & Company in the fourth quarter worth $2,049,693,000. Moneta Group Investment Advisors LLC boosted its stake in shares of Wells Fargo & Company by 129,312.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock worth $1,085,410,000 after purchasing an additional 26,267,166 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Wells Fargo & Company by 1,478.6% during the 1st quarter. Renaissance Technologies LLC now owns 8,390,611 shares of the financial services provider’s stock worth $406,609,000 after purchasing an additional 7,859,100 shares during the period. Ontario Teachers Pension Plan Board bought a new position in Wells Fargo & Company during the 1st quarter valued at about $345,861,000. Finally, Imprint Wealth LLC raised its position in Wells Fargo & Company by 4,238.0% in the 2nd quarter. Imprint Wealth LLC now owns 4,284,901 shares of the financial services provider’s stock worth $428,490,000 after purchasing an additional 4,186,124 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 1.4 %

WFC opened at $57.18 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The firm has a market cap of $202.44 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 1.10 and a beta of 1.19. Wells Fargo & Company has a 12 month low of $36.40 and a 12 month high of $58.44. The stock has a fifty day moving average price of $55.42 and a 200-day moving average price of $48.61.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 earnings per share. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.04 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a yield of 2.45%. Wells Fargo & Company’s payout ratio is 29.23%.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of analyst reports. HSBC upped their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Morgan Stanley lifted their target price on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a report on Monday. The Goldman Sachs Group lifted their price objective on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, Jefferies Financial Group boosted their price objective on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Thirteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $58.85.

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.