Wells Fargo & Company (NYSE:WFC) Shares Sold by Aspiriant LLC

Aspiriant LLC decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,601 shares of the financial services provider’s stock after selling 746 shares during the quarter. Aspiriant LLC’s holdings in Wells Fargo & Company were worth $1,484,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new position in Wells Fargo & Company during the fourth quarter worth $2,623,044,000. LSV Asset Management lifted its stake in Wells Fargo & Company by 40.4% during the 4th quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider’s stock worth $458,162,000 after acquiring an additional 2,677,050 shares in the last quarter. Morningstar Investment Services LLC boosted its holdings in Wells Fargo & Company by 103.7% during the 4th quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock valued at $189,684,000 after acquiring an additional 1,951,477 shares during the period. Nordea Investment Management AB grew its position in Wells Fargo & Company by 42.7% in the 4th quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock valued at $285,668,000 after acquiring an additional 1,729,132 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its stake in Wells Fargo & Company by 91.5% during the fourth quarter. 1832 Asset Management L.P. now owns 3,503,169 shares of the financial services provider’s stock worth $172,426,000 after purchasing an additional 1,673,917 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on WFC shares. Compass Point restated a “neutral” rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Morgan Stanley upped their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Argus lifted their target price on Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a report on Monday, April 15th. Jefferies Financial Group upped their price target on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Finally, StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Fourteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $59.15.

Wells Fargo & Company Price Performance

Shares of WFC opened at $57.42 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. Wells Fargo & Company has a 1-year low of $38.38 and a 1-year high of $62.55. The stock has a market cap of $200.18 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. The firm has a fifty day moving average price of $59.59 and a 200 day moving average price of $54.93.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.23 EPS. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s payout ratio is currently 29.23%.

Wells Fargo & Company Profile

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.