Sendero Wealth Management LLC Reduces Position in Wells Fargo & Company (NYSE:WFC)

Sendero Wealth Management LLC decreased its position in Wells Fargo & Company (NYSE:WFC) by 5.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 20,517 shares of the financial services provider’s stock after selling 1,168 shares during the period. Sendero Wealth Management LLC’s holdings in Wells Fargo & Company were worth $1,441,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. WINTON GROUP Ltd bought a new position in shares of Wells Fargo & Company during the second quarter valued at about $225,000. Edgestream Partners L.P. bought a new stake in shares of Wells Fargo & Company in the second quarter worth about $272,000. E Fund Management Co. Ltd. increased its holdings in Wells Fargo & Company by 9.7% during the 2nd quarter. E Fund Management Co. Ltd. now owns 21,947 shares of the financial services provider’s stock valued at $1,303,000 after purchasing an additional 1,944 shares during the period. Meridian Wealth Partners LLC raised its position in Wells Fargo & Company by 0.6% during the 2nd quarter. Meridian Wealth Partners LLC now owns 42,449 shares of the financial services provider’s stock valued at $2,521,000 after purchasing an additional 274 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in Wells Fargo & Company by 16.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 607,195 shares of the financial services provider’s stock worth $34,546,000 after buying an additional 86,777 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on WFC shares. Keefe, Bruyette & Woods boosted their target price on Wells Fargo & Company from $61.00 to $79.00 and gave the company a “market perform” rating in a research note on Tuesday, December 3rd. UBS Group boosted their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. 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 report on Friday, December 6th. Citigroup lifted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Morgan Stanley decreased their price target on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. 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 stock. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and an average price target of $69.92.

Wells Fargo & Company Stock Up 6.6 %

Shares of Wells Fargo & Company stock opened at $75.86 on Thursday. The company has a 50-day simple moving average of $72.41 and a two-hundred day simple moving average of $63.15. Wells Fargo & Company has a 52-week low of $46.12 and a 52-week high of $78.13. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $252.58 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company’s revenue was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.86 EPS. On average, analysts anticipate that Wells Fargo & Company will post 5.45 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.11%. 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.