Wells Fargo & Company (NYSE:WFC) Shares Sold by Evolution Advisers Inc.

Evolution Advisers Inc. lowered its stake in Wells Fargo & Company (NYSE:WFC) by 7.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,442 shares of the financial services provider’s stock after selling 370 shares during the quarter. Evolution Advisers Inc.’s holdings in Wells Fargo & Company were worth $318,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Northern Trust Corp lifted its holdings in Wells Fargo & Company by 10.7% in the fourth quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider’s stock worth $2,411,992,000 after purchasing an additional 3,307,855 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Wells Fargo & Company by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 20,369,222 shares of the financial services provider’s stock worth $1,430,742,000 after purchasing an additional 238,131 shares during the period. Capital Research Global Investors lifted its holdings in Wells Fargo & Company by 932.0% in the fourth quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider’s stock worth $1,105,218,000 after purchasing an additional 14,210,193 shares during the period. Capital World Investors lifted its holdings in Wells Fargo & Company by 0.4% in the fourth quarter. Capital World Investors now owns 13,914,098 shares of the financial services provider’s stock worth $977,338,000 after purchasing an additional 62,099 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Wells Fargo & Company by 277.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock worth $771,092,000 after purchasing an additional 7,894,919 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WFC shares. Truist Financial upped their price target on shares of Wells Fargo & Company from $83.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Citigroup reissued a “neutral” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. TD Cowen started coverage on shares of Wells Fargo & Company in a report on Thursday, May 15th. They issued a “hold” rating and a $83.00 price target for the company. Phillip Securities downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Finally, Barclays cut their price target on shares of Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.39.

Wells Fargo & Company Price Performance

WFC stock opened at $77.60 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a one year low of $50.22 and a one year high of $84.83. The firm has a market capitalization of $252.53 billion, a PE ratio of 13.29, a P/E/G ratio of 1.21 and a beta of 1.20. The firm has a 50-day moving average of $78.81 and a two-hundred day moving average of $74.97.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The company had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same period in the prior year, the firm earned $1.33 earnings per share. The business’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 8th will be issued a $0.45 dividend. The ex-dividend date is Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio is currently 27.40%.

Wells Fargo & Company declared that its Board of Directors has authorized a share repurchase plan on Tuesday, April 29th that allows the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 17.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

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.