Wells Fargo & Company (NYSE:WFC) Shares Sold by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd decreased its stake in Wells Fargo & Company (NYSE:WFC) by 70.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,787 shares of the financial services provider’s stock after selling 50,558 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Wells Fargo & Company were worth $1,460,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Rialto Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at approximately $26,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company in the 4th quarter valued at approximately $30,000. McClarren Financial Advisors Inc. purchased a new position in Wells Fargo & Company in the 4th quarter valued at approximately $30,000. Rakuten Securities Inc. raised its holdings in Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares during the last quarter. Finally, Decker Retirement Planning Inc. purchased a new stake in Wells Fargo & Company during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 7.2 %

Shares of NYSE:WFC opened at $60.91 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The firm has a market cap of $198.89 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.18 and a beta of 1.02. The stock’s 50-day moving average price is $74.93 and its two-hundred day moving average price is $70.56. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50.

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, topping the consensus estimate 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 business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period in the prior year, the firm posted $0.86 EPS. The company’s revenue was down .5% on a year-over-year basis. On average, research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.63%. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WFC. Bank of America dropped their price target on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday. Morgan Stanley set a $79.00 target price on shares of Wells Fargo & Company in a report on Monday, March 24th. Compass Point lifted 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. Barclays increased 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 report on Thursday, January 16th. Finally, JPMorgan Chase & Co. cut their price objective on Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $75.50.

About Wells Fargo & Company

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.