Wells Fargo & Company (NYSE:WFC) Stake Raised by Horizon Investments LLC

Horizon Investments LLC grew its holdings in Wells Fargo & Company (NYSE:WFC) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,320 shares of the financial services provider’s stock after purchasing an additional 1,267 shares during the period. Horizon Investments LLC’s holdings in Wells Fargo & Company were worth $5,544,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Advisors Asset Management Inc. raised its holdings in shares of Wells Fargo & Company by 15.0% during the fourth quarter. Advisors Asset Management Inc. now owns 55,180 shares of the financial services provider’s stock worth $3,876,000 after acquiring an additional 7,208 shares in the last quarter. Carlson Capital Management increased its position in Wells Fargo & Company by 3.5% in the 4th quarter. Carlson Capital Management now owns 11,016 shares of the financial services provider’s stock worth $774,000 after purchasing an additional 370 shares during the last quarter. PDS Planning Inc raised its stake in shares of Wells Fargo & Company by 1.7% during the 4th quarter. PDS Planning Inc now owns 10,116 shares of the financial services provider’s stock worth $711,000 after purchasing an additional 173 shares in the last quarter. Leelyn Smith LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $214,000. Finally, RD Lewis Holdings Inc. acquired a new position in Wells Fargo & Company in the fourth quarter worth approximately $419,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Compass Point raised their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Citigroup boosted their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a report on Thursday, March 13th. Finally, Truist Financial upped their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.39.

Wells Fargo & Company Trading Up 0.0 %

Shares of WFC stock opened at $70.88 on Tuesday. The firm has a fifty day moving average of $75.87 and a 200-day moving average of $69.11. The stock has a market cap of $233.07 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. 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 (NYSE:WFC) last announced 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. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 earnings per share. On average, equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is 29.74%.

Wells Fargo & Company Company Profile

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.