Envestnet Portfolio Solutions Inc. Reduces Holdings in Wells Fargo & Company (NYSE:WFC)

Envestnet Portfolio Solutions Inc. decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 129,304 shares of the financial services provider’s stock after selling 2,249 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Wells Fargo & Company were worth $9,082,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WFC. one8zero8 LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $526,000. Choate Investment Advisors increased its position in shares of Wells Fargo & Company by 12.2% in the 4th quarter. Choate Investment Advisors now owns 46,347 shares of the financial services provider’s stock worth $3,255,000 after purchasing an additional 5,033 shares during the last quarter. Diversified Enterprises LLC increased its position in shares of Wells Fargo & Company by 3.4% in the 4th quarter. Diversified Enterprises LLC now owns 6,696 shares of the financial services provider’s stock worth $469,000 after purchasing an additional 222 shares during the last quarter. Frank Rimerman Advisors LLC increased its position in shares of Wells Fargo & Company by 2.2% in the 4th quarter. Frank Rimerman Advisors LLC now owns 20,532 shares of the financial services provider’s stock worth $1,442,000 after purchasing an additional 449 shares during the last quarter. Finally, First Financial Group Corp bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $330,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. UBS Group boosted their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research 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 research report on Tuesday, December 10th. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. 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. Finally, Barclays lifted their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.39.

Wells Fargo & Company Trading Up 0.0 %

Wells Fargo & Company stock opened at $70.88 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 firm has a 50-day moving average price of $75.87 and a two-hundred day moving average price of $69.11. The firm has a market capitalization of $233.07 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates 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 revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. Sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wells Fargo & Company Profile

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.