Forsta AP Fonden Sells 15,100 Shares of Wells Fargo & Company (NYSE:WFC)

Forsta AP Fonden lowered its stake in Wells Fargo & Company (NYSE:WFC) by 1.7% in the 4th quarter, Holdings Channel reports. The firm owned 855,700 shares of the financial services provider’s stock after selling 15,100 shares during the quarter. Forsta AP Fonden’s holdings in Wells Fargo & Company were worth $60,104,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Mattson Financial Services LLC purchased a new position in Wells Fargo & Company during the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Wells Fargo & Company during the 2nd quarter valued at $26,000. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company in the third quarter worth $29,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth $30,000. Finally, Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company during the fourth quarter valued at $32,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

WFC stock opened at $77.99 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The firm’s 50-day moving average price is $73.35 and its two-hundred day moving average price is $64.38. The stock has a market capitalization of $259.66 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 1.17 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $78.30.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 EPS. As a group, equities analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.05%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

Wall Street Analysts Forecast Growth

WFC has been the topic of several recent analyst reports. UBS Group raised their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. 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 research note on Thursday, January 16th. Compass Point lifted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Barclays raised their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus price target of $73.39.

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.