Twin Capital Management Inc. Sells 3,812 Shares of Wells Fargo & Company (NYSE:WFC)

Twin Capital Management Inc. decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,616 shares of the financial services provider’s stock after selling 3,812 shares during the quarter. Twin Capital Management Inc.’s holdings in Wells Fargo & Company were worth $4,165,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Financial Corp IN boosted its holdings in Wells Fargo & Company by 4.9% during the 4th quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 214 shares during the period. CX Institutional lifted its stake in shares of Wells Fargo & Company by 1.1% in the 4th quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock valued at $998,000 after purchasing an additional 217 shares during the period. ERTS Wealth Advisors LLC lifted its stake in shares of Wells Fargo & Company by 3.5% in the 4th quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 228 shares during the period. Prio Wealth Limited Partnership lifted its stake in shares of Wells Fargo & Company by 1.7% in the 4th quarter. Prio Wealth Limited Partnership now owns 14,309 shares of the financial services provider’s stock valued at $704,000 after purchasing an additional 233 shares during the period. Finally, SJS Investment Consulting Inc. raised its stake in Wells Fargo & Company by 19.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider’s stock valued at $75,000 after buying an additional 244 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock traded up $1.26 during trading hours on Thursday, hitting $58.44. The company’s stock had a trading volume of 12,699,211 shares, compared to its average volume of 18,601,473. The business has a 50 day moving average price of $55.42 and a two-hundred day moving average price of $48.61. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $59.13. The company has a market cap of $206.90 billion, a PE ratio of 12.29, a PEG ratio of 1.10 and a beta of 1.19. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the previous year, the business earned $1.23 earnings per share. The business’s revenue was up .6% on a year-over-year basis. Analysts expect that Wells Fargo & Company will post 5.04 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.40 annualized dividend and a dividend yield of 2.40%. Wells Fargo & Company’s payout ratio is 29.23%.

Analysts Set New Price Targets

A number of brokerages have issued reports on WFC. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $51.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, January 9th. Raymond James lifted their price objective on Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 16th. Citigroup restated a “neutral” rating and issued a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Jefferies Financial Group boosted their price target on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Finally, Odeon Capital Group lowered Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective for the company. in a report on Thursday, January 18th. Thirteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $58.85.

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.