Sepio Capital LP Sells 392 Shares of Wells Fargo & Company (NYSE:WFC)

Sepio Capital LP reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 3.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,293 shares of the financial services provider’s stock after selling 392 shares during the quarter. Sepio Capital LP’s holdings in Wells Fargo & Company were worth $793,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of WFC. Norges Bank bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $3,365,658,000. Artisan Partners Limited Partnership bought a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $117,026,000. KLP Kapitalforvaltning AS acquired a new position in Wells Fargo & Company during the 4th quarter worth approximately $85,031,000. Korea Investment CORP grew its stake in shares of Wells Fargo & Company by 53.9% during the 4th quarter. Korea Investment CORP now owns 3,286,809 shares of the financial services provider’s stock worth $230,865,000 after acquiring an additional 1,150,443 shares in the last quarter. Finally, Artemis Investment Management LLP raised its holdings in shares of Wells Fargo & Company by 410.8% in the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock valued at $96,567,000 after purchasing an additional 1,105,679 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $60.91 on Monday. The business’s 50 day moving average is $74.93 and its 200-day moving average is $70.67. The firm has a market cap of $198.89 billion, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

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

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analyst Ratings Changes

A number of research firms recently weighed in on WFC. Citigroup decreased their target price on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. JPMorgan Chase & Co. decreased their price objective on Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a report on Thursday. Compass Point upped their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley set a $79.00 price target on Wells Fargo & Company in a research note on Monday, March 24th. Finally, Truist Financial dropped their price objective on Wells Fargo & Company from $86.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.50.

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.