Los Angeles Capital Management LLC Sells 42,613 Shares of Wells Fargo & Company (NYSE:WFC)

Los Angeles Capital Management LLC lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 17.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 201,806 shares of the financial services provider’s stock after selling 42,613 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Wells Fargo & Company were worth $14,175,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Todd Asset Management LLC increased its stake in Wells Fargo & Company by 19.2% in the fourth quarter. Todd Asset Management LLC now owns 417,315 shares of the financial services provider’s stock valued at $29,312,000 after acquiring an additional 67,148 shares during the period. FourThought Financial Partners LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at about $375,000. BankPlus Trust Department acquired a new position in Wells Fargo & Company in the fourth quarter valued at about $35,000. Wealthstream Advisors Inc. boosted its position in Wells Fargo & Company by 15.8% in the fourth quarter. Wealthstream Advisors Inc. now owns 7,179 shares of the financial services provider’s stock valued at $504,000 after buying an additional 981 shares in the last quarter. Finally, Crestwood Advisors Group LLC boosted its position in Wells Fargo & Company by 8.8% in the fourth quarter. Crestwood Advisors Group LLC now owns 40,277 shares of the financial services provider’s stock valued at $2,829,000 after buying an additional 3,260 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 1.6 %

Shares of NYSE WFC opened at $75.95 on Wednesday. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market capitalization of $252.87 billion, a P/E ratio of 14.12, a P/E/G ratio of 1.18 and a beta of 1.18. The company’s 50 day simple moving average is $75.40 and its 200 day simple moving average is $67.44.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. On average, analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s payout ratio is presently 29.74%.

Analyst Ratings Changes

A number of equities analysts have commented on WFC shares. 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 research report on Wednesday, October 30th. Truist Financial boosted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Citigroup upped their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Compass Point upped their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group upped 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. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus target price of $73.39.

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.