San Luis Wealth Advisors LLC Cuts Position in Wells Fargo & Company (NYSE:WFC)

San Luis Wealth Advisors LLC lowered its position in Wells Fargo & Company (NYSE:WFC) by 26.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,529 shares of the financial services provider’s stock after selling 2,289 shares during the quarter. San Luis Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $459,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Two Sigma Advisers LP lifted its position 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 worth $336,375,000 after purchasing an additional 5,237,500 shares during the last quarter. Canoe Financial LP acquired a new stake in Wells Fargo & Company in the third quarter valued at $160,529,000. Marshall Wace LLP lifted its holdings in Wells Fargo & Company by 3,295.6% during the 2nd quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock worth $138,493,000 after buying an additional 2,404,898 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position 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 worth $153,069,000 after acquiring an additional 1,659,716 shares in the last quarter. Finally, National Pension Service increased its holdings in shares of Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after acquiring an additional 897,195 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on WFC. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 14th. Keefe, Bruyette & Woods upped their target price on shares of Wells Fargo & Company from $61.00 to $79.00 and gave the company a “market perform” rating in a report on Tuesday, December 3rd. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research note on Tuesday, October 8th. Truist Financial initiated coverage on shares of Wells Fargo & Company in a research note on Tuesday, January 7th. They issued a “buy” rating and a $82.00 price objective for the company. Finally, Citigroup lifted their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.92.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $71.07 on Wednesday. The stock has a market capitalization of $236.63 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.47 and a beta of 1.18. The business’s 50 day moving average is $72.41 and its two-hundred day moving average is $63.15. Wells Fargo & Company has a 12-month low of $46.12 and a 12-month high of $78.13. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

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.