StoneX Group Inc. Lowers Stock Position in Wells Fargo & Company (NYSE:WFC)

by · The Cerbat Gem

StoneX Group Inc. trimmed its stake in Wells Fargo & Company (NYSE:WFC) by 7.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 15,075 shares of the financial services provider’s stock after selling 1,268 shares during the period. StoneX Group Inc.’s holdings in Wells Fargo & Company were worth $1,059,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Rialto Wealth Management LLC purchased a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $26,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $30,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $30,000. Rakuten Securities Inc. lifted its stake in Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 237 shares in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new position in Wells Fargo & Company during the 4th quarter worth about $32,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $71.27 on Wednesday. The stock’s 50-day moving average is $75.60 and its two-hundred day moving average is $70.42. 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 has a 1 year low of $50.15 and a 1 year high of $81.50. The firm has a market cap of $232.72 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC – Get Free Report) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the business posted $0.86 EPS. The firm’s quarterly revenue was down .5% compared to the same quarter last year. Analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.24%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Keefe, Bruyette & Woods raised their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Morgan Stanley raised their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Citigroup reduced their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Finally, UBS Group lifted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $74.97.

Check Out Our Latest Stock Analysis on WFC

Wells Fargo & Company Profile

(Free Report)

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.

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