Securian Asset Management Inc. Sells 9,311 Shares of Wells Fargo & Company (NYSE:WFC)

Securian Asset Management Inc. reduced its position in Wells Fargo & Company (NYSE:WFC) by 4.9% during the fourth quarter, HoldingsChannel reports. The fund owned 178,946 shares of the financial services provider’s stock after selling 9,311 shares during the quarter. Securian Asset Management Inc.’s holdings in Wells Fargo & Company were worth $12,569,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new stake in Wells Fargo & Company in the 4th quarter valued at about $26,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company in the 4th quarter valued at about $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company in the 4th quarter valued at about $30,000. Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company during the 4th quarter valued at about $32,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in Wells Fargo & Company during the 4th quarter valued at about $35,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $67.33 on Wednesday. The business has a 50 day moving average of $75.96 and a 200 day moving average of $68.74. The company has a market capitalization of $221.40 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

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 for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The business’s revenue was down .5% on a year-over-year basis. On average, sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.38%. Wells Fargo & Company’s payout ratio is currently 29.74%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WFC. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Compass Point lifted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Piper Sandler lifted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. UBS Group lifted their target price on 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 lifted their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $73.39.

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.