St. Louis Financial Planners Asset Management LLC Trims Holdings in Wells Fargo & Company (NYSE:WFC)

St. Louis Financial Planners Asset Management LLC decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 13.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,567 shares of the financial services provider’s stock after selling 6,113 shares during the quarter. Wells Fargo & Company comprises approximately 2.0% of St. Louis Financial Planners Asset Management LLC’s investment portfolio, making the stock its 10th biggest holding. St. Louis Financial Planners Asset Management LLC’s holdings in Wells Fargo & Company were worth $2,261,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of WFC. Norges Bank bought a new position in Wells Fargo & Company in the fourth quarter valued at approximately $2,623,044,000. LSV Asset Management lifted its stake in Wells Fargo & Company by 40.4% in the fourth quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider’s stock valued at $458,162,000 after buying an additional 2,677,050 shares in the last quarter. Morningstar Investment Services LLC lifted its stake in Wells Fargo & Company by 103.7% in the fourth quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock valued at $189,684,000 after buying an additional 1,951,477 shares in the last quarter. Nordea Investment Management AB lifted its stake in Wells Fargo & Company by 42.7% in the fourth quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock valued at $285,668,000 after buying an additional 1,729,132 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in Wells Fargo & Company by 91.5% in the fourth quarter. 1832 Asset Management L.P. now owns 3,503,169 shares of the financial services provider’s stock valued at $172,426,000 after buying an additional 1,673,917 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE WFC traded down $0.73 on Friday, hitting $58.23. 9,197,257 shares of the stock were exchanged, compared to its average volume of 17,897,791. The company has a market capitalization of $203.01 billion, a PE ratio of 12.10, a P/E/G ratio of 1.46 and a beta of 1.17. The business’s fifty day moving average is $59.51 and its 200 day moving average is $54.51. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

Wells Fargo & Company (NYSE:WFCGet Free Report) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.23 earnings per share. Research analysts anticipate that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s payout ratio is presently 29.23%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Jefferies Financial Group lifted their price objective on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a report on Monday, April 8th. Evercore ISI lifted their price objective on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Fourteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $58.99.

Read Our Latest Report on Wells Fargo & Company

Wells Fargo & Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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