Hurlow Wealth Management Group Inc. Makes New Investment in Wells Fargo & Company (NYSE:WFC)

by · The Markets Daily

Hurlow Wealth Management Group Inc. bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,426 shares of the financial services provider’s stock, valued at approximately $241,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its stake in shares of Wells Fargo & Company by 19.1% during the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock worth $13,369,000 after purchasing an additional 30,510 shares in the last quarter. Valmark Advisers Inc. lifted its position in Wells Fargo & Company by 5.5% during the 4th quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider’s stock worth $583,000 after acquiring an additional 431 shares in the last quarter. NatWest Group plc boosted its holdings in Wells Fargo & Company by 57.7% in the 4th quarter. NatWest Group plc now owns 172,484 shares of the financial services provider’s stock worth $12,115,000 after acquiring an additional 63,102 shares during the period. Weiss Asset Management LP acquired a new stake in Wells Fargo & Company in the third quarter valued at approximately $10,451,000. Finally, Financiere des Professionnels Fonds d investissement inc. purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at $1,656,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on WFC. Truist Financial lifted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Barclays boosted their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. lowered their price objective on Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a research note on Thursday. Morgan Stanley set a $79.00 target price on Wells Fargo & Company in a research report on Monday, March 24th. Finally, UBS Group raised their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.55.

Check Out Our Latest Stock Report on WFC

Wells Fargo & Company Stock Down 9.2 %

Wells Fargo & Company stock opened at $65.62 on Friday. 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 one year low of $50.15 and a one year high of $81.50. The company has a 50-day simple moving average of $75.26 and a 200-day simple moving average of $70.40. The firm has a market capitalization of $214.27 billion, a P/E ratio of 12.20, a P/E/G ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC – Get Free Report) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate 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%. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. As a group, equities analysts expect 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. Shareholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.44%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wells Fargo & Company 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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