StoneX Group Inc. Lowers Holdings in Wells Fargo & Company (NYSE:WFC)

StoneX Group Inc. lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 7.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 15,075 shares of the financial services provider’s stock after selling 1,268 shares during the period. StoneX Group Inc.’s holdings in Wells Fargo & Company were worth $1,059,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Rialto Wealth Management LLC purchased a new position in Wells Fargo & Company during the fourth quarter valued at approximately $26,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $30,000. McClarren Financial Advisors Inc. purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $30,000. Rakuten Securities Inc. lifted its stake in shares of Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 237 shares during the period. Finally, Decker Retirement Planning Inc. purchased a new stake in Wells Fargo & Company during the fourth quarter worth $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on WFC shares. The Goldman Sachs Group upped their price objective 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. UBS Group upped their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Morgan Stanley raised their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. 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 research note on Tuesday, December 10th. 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 research note on Thursday, January 16th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus target price of $74.97.

Wells Fargo & Company Stock Down 0.7 %

Shares of NYSE:WFC opened at $71.27 on Wednesday. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The stock has a market cap of $232.72 billion, a P/E ratio of 13.25, a PEG ratio of 1.18 and a beta of 1.16. The business has a fifty day moving average of $75.60 and a two-hundred day moving average of $70.42. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data 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. 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 analyst estimates of $20.58 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. On average, research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is presently 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.