Cullinan Associates Inc. Sells 1,900 Shares of Wells Fargo & Company (NYSE:WFC)

Cullinan Associates Inc. decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,245 shares of the financial services provider’s stock after selling 1,900 shares during the period. Cullinan Associates Inc.’s holdings in Wells Fargo & Company were worth $2,967,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Cardinal Capital Management Inc. raised its position in shares of Wells Fargo & Company by 2.0% in the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock worth $32,505,000 after acquiring an additional 11,037 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of Wells Fargo & Company by 37.2% during the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock worth $36,055,000 after acquiring an additional 173,083 shares in the last quarter. Atlantic Union Bankshares Corp raised its stake in shares of Wells Fargo & Company by 17.4% during the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock valued at $10,031,000 after acquiring an additional 26,320 shares during the last quarter. Chartwell Investment Partners LLC lifted its stake in shares of Wells Fargo & Company by 16.4% in the 3rd quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock valued at $7,504,000 after purchasing an additional 18,717 shares during the period. Finally, Argus Investors Counsel Inc. boosted its stake in Wells Fargo & Company by 34.6% in the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock worth $1,780,000 after purchasing an additional 8,107 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on WFC shares. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price objective for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods raised their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Evercore ISI boosted their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, UBS Group lifted 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. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Trading Down 0.8 %

Shares of NYSE WFC opened at $78.14 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The stock’s 50 day moving average price is $73.59 and its two-hundred day moving average price is $64.78. Wells Fargo & Company has a 52-week low of $47.45 and a 52-week high of $79.29. The stock has a market capitalization of $260.17 billion, a P/E ratio of 14.52, a PEG ratio of 1.19 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) 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. On average, analysts anticipate that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.05%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

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.