Breakwater Capital Group Has $1.21 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Breakwater Capital Group decreased its stake in Wells Fargo & Company (NYSE:WFC) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,187 shares of the financial services provider’s stock after selling 217 shares during the quarter. Breakwater Capital Group’s holdings in Wells Fargo & Company were worth $1,207,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in WFC. Prosperity Consulting Group LLC increased its holdings in Wells Fargo & Company by 7.5% during the 2nd quarter. Prosperity Consulting Group LLC now owns 4,993 shares of the financial services provider’s stock valued at $297,000 after purchasing an additional 349 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in Wells Fargo & Company in the second quarter worth about $225,000. Rathbones Group PLC raised its holdings in Wells Fargo & Company by 1.6% during the 2nd quarter. Rathbones Group PLC now owns 109,885 shares of the financial services provider’s stock worth $6,526,000 after purchasing an additional 1,762 shares during the last quarter. Marble Harbor Investment Counsel LLC lifted its holdings in Wells Fargo & Company by 1.2% in the second quarter. Marble Harbor Investment Counsel LLC now owns 125,168 shares of the financial services provider’s stock valued at $7,434,000 after buying an additional 1,479 shares during the period. Finally, Waycross Partners LLC boosted its stake in Wells Fargo & Company by 12.4% in the second quarter. Waycross Partners LLC now owns 282,039 shares of the financial services provider’s stock valued at $16,750,000 after acquiring an additional 31,033 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Insiders Place Their Bets

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value of $3,822,000.00. Following the transaction, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. This represents a 26.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.08% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $70.59 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a fifty day simple moving average of $72.27 and a two-hundred day simple moving average of $63.07. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13. The firm has a market cap of $235.03 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The firm had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the business earned $1.39 earnings per share. Analysts anticipate that Wells Fargo & Company will post 5.43 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.27%. Wells Fargo & Company’s payout ratio is 33.26%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. Barclays upped their target price on shares of Wells Fargo & Company from $75.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Compass Point lifted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. UBS Group lifted their price objective 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. Finally, Keefe, Bruyette & Woods upped their target price on Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a report on Tuesday, December 3rd. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average price target of $69.92.

About Wells Fargo & Company

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.