Koss Olinger Consulting LLC Reduces Stock Position in Wells Fargo & Company (NYSE:WFC)

Koss Olinger Consulting LLC lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,536 shares of the financial services provider’s stock after selling 3,849 shares during the quarter. Koss Olinger Consulting LLC’s holdings in Wells Fargo & Company were worth $2,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Two Sigma Advisers LP lifted its stake in shares of Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after buying an additional 5,237,500 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Wells Fargo & Company by 158.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock valued at $153,069,000 after buying an additional 1,659,716 shares in the last quarter. Artemis Investment Management LLP increased its holdings in Wells Fargo & Company by 410.8% in the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock valued at $96,567,000 after acquiring an additional 1,105,679 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in Wells Fargo & Company by 81.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider’s stock valued at $111,914,000 after acquiring an additional 889,953 shares during the last quarter. Finally, KBC Group NV increased its holdings in Wells Fargo & Company by 63.1% in the 4th quarter. KBC Group NV now owns 1,962,302 shares of the financial services provider’s stock valued at $137,832,000 after acquiring an additional 758,893 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WFC. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Thursday, March 13th. The Goldman Sachs Group lifted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. UBS Group lifted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Compass Point boosted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.39.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $71.08 on Wednesday. The stock has a market cap of $233.72 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The firm has a 50-day moving average of $75.86 and a two-hundred day moving average of $69.19.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. The company 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%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 EPS. On average, research analysts forecast 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. Stockholders of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. Wells Fargo & Company’s payout ratio is presently 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.