CWA Asset Management Group LLC Raises Holdings in Wells Fargo & Company (NYSE:WFC)

CWA Asset Management Group LLC grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 19.1% during the 4th quarter, HoldingsChannel reports. The firm owned 48,510 shares of the financial services provider’s stock after buying an additional 7,791 shares during the period. CWA Asset Management Group LLC’s holdings in Wells Fargo & Company were worth $3,407,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Mattson Financial Services LLC purchased a new stake in Wells Fargo & Company during the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wells Fargo & Company in the second quarter valued at approximately $26,000. Truvestments Capital LLC acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $29,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company during the fourth quarter worth approximately $30,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in Wells Fargo & Company during the third quarter worth $34,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 1.0 %

NYSE:WFC opened at $72.00 on Tuesday. Wells Fargo & Company has a 12-month low of $46.12 and a 12-month high of $78.13. The firm has a market cap of $239.72 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a fifty day moving average price of $71.64 and a 200 day moving average price of $62.60.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter last year, the business posted $1.39 EPS. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. Sell-side analysts anticipate that Wells Fargo & Company will post 5.43 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

Insider Activity

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $61.99, for a total value of $2,169,650.00. Following the sale, the executive vice president now directly owns 126,687 shares in the company, valued at $7,853,327.13. This trade represents a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value of $3,822,000.00. Following the sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. This trade represents a 26.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on WFC shares. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their target price for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. UBS Group raised their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Evercore ISI lifted their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Barclays upped their price objective on Wells Fargo & Company from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $68.63.

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.