Assenagon Asset Management S.A. Sells 554 Shares of Wells Fargo & Company (NYSE:WFC)

Assenagon Asset Management S.A. reduced its position in Wells Fargo & Company (NYSE:WFC) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,846 shares of the financial services provider’s stock after selling 554 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Wells Fargo & Company were worth $6,732,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Edgestream Partners L.P. acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at approximately $272,000. AE Wealth Management LLC boosted its holdings in Wells Fargo & Company by 16.4% during the second quarter. AE Wealth Management LLC now owns 93,970 shares of the financial services provider’s stock worth $5,581,000 after buying an additional 13,241 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Wells Fargo & Company by 0.9% during the 2nd quarter. Pacer Advisors Inc. now owns 248,325 shares of the financial services provider’s stock worth $14,748,000 after buying an additional 2,255 shares during the period. Hancock Whitney Corp increased its stake in shares of Wells Fargo & Company by 776.7% in the 2nd quarter. Hancock Whitney Corp now owns 91,264 shares of the financial services provider’s stock valued at $5,420,000 after acquiring an additional 80,854 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Wells Fargo & Company by 1.1% in the 2nd quarter. ProShare Advisors LLC now owns 723,733 shares of the financial services provider’s stock valued at $42,983,000 after acquiring an additional 7,748 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Tuesday, October 8th. Truist Financial upped their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley lifted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday. Barclays increased their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday. Finally, UBS Group lifted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $77.22 on Monday. The firm has a market capitalization of $257.11 billion, a P/E ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.18. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The business has a fifty day moving average of $72.74 and a 200 day moving average of $63.46. Wells Fargo & Company has a one year low of $46.12 and a one year high of $78.13.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The firm’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 EPS. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.45 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were given a dividend of $0.40 per share. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

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.