DT Investment Partners LLC Reduces Stock Position in Wells Fargo & Company (NYSE:WFC)

DT Investment Partners LLC lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 41.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,267 shares of the financial services provider’s stock after selling 1,584 shares during the quarter. DT Investment Partners LLC’s holdings in Wells Fargo & Company were worth $159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. National Pension Service boosted its stake in shares of Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after acquiring an additional 897,195 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of Wells Fargo & Company by 2.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock worth $375,183,000 after acquiring an additional 162,066 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Wells Fargo & Company by 10.1% during the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock worth $441,983,000 after acquiring an additional 575,892 shares during the last quarter. Two Sigma Advisers LP boosted its stake 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 acquiring an additional 5,237,500 shares during the last quarter. Finally, Canoe Financial LP purchased a new position in shares of Wells Fargo & Company during the 3rd quarter worth $160,529,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $78.76 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market cap of $262.23 billion, a P/E ratio of 14.64, a P/E/G ratio of 1.22 and a beta of 1.18. The firm’s fifty day moving average is $74.20 and its two-hundred day moving average is $65.87. Wells Fargo & Company has a 52-week low of $47.96 and a 52-week high of $81.50.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the previous year, the firm posted $0.86 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. As a group, analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analyst Weigh In

WFC has been the topic of several analyst reports. UBS Group lifted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Morgan Stanley raised their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Citigroup raised their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company 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.