CNA Financial Corp Trims Position in Wells Fargo & Company $WFC

CNA Financial Corp reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 7.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,000 shares of the financial services provider’s stock after selling 15,000 shares during the period. Wells Fargo & Company comprises approximately 9.9% of CNA Financial Corp’s holdings, making the stock its 3rd biggest position. CNA Financial Corp’s holdings in Wells Fargo & Company were worth $16,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of WFC. Redmont Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company during the third quarter worth about $27,000. Marquette Asset Management LLC increased its holdings in Wells Fargo & Company by 472.4% in the third quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock valued at $28,000 after buying an additional 274 shares during the last quarter. Grey Fox Wealth Advisors LLC bought a new stake in Wells Fargo & Company in the third quarter valued at about $30,000. Imprint Wealth LLC acquired a new stake in Wells Fargo & Company during the third quarter valued at approximately $31,000. Finally, Kilter Group LLC acquired a new stake in Wells Fargo & Company during the second quarter valued at approximately $31,000. Institutional investors own 75.90% of the company’s stock.

Insider Buying and Selling

In other Wells Fargo & Company news, EVP Bridget E. Engle sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the completion of the transaction, the executive vice president directly owned 83,478 shares of the company’s stock, valued at $7,270,933.80. The trade was a 26.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ellen R. Patterson sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the completion of the sale, the executive vice president owned 169,496 shares in the company, valued at $14,813,950.40. The trade was a 26.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 115,000 shares of company stock valued at $10,050,000 in the last quarter. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the subject of several research reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $100.00 target price on shares of Wells Fargo & Company in a research report on Thursday, January 15th. Wolfe Research reissued an “outperform” rating and set a $109.00 price target on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Freedom Capital cut Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 15th. UBS Group reaffirmed a “buy” rating and issued a $113.00 price objective on shares of Wells Fargo & Company in a report on Wednesday, February 4th. Finally, Barclays boosted their target price on shares of Wells Fargo & Company from $94.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Thirteen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.03.

More Wells Fargo & Company News

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Technically deeply oversold and analyst support could spark a relief bounce — MarketBeat notes WFC is trading well below recent highs, its RSI is in oversold territory, and several outlets/analysts maintain Outperform/Buy ratings and high price targets that imply significant upside if sentiment stabilizes. Bargain Alert: Wells Fargo and Goldman Sachs Look Deeply Oversold
• Positive Sentiment: Strategic optionality in digital assets — filings show Wells Fargo has applied for a WFUSD trademark covering stablecoins and blockchain payment services, signaling a possible future new revenue stream (still speculative and regulatory-dependent). Wells Fargo Submits WFUSD Trademark Application
• Neutral Sentiment: Active analyst research flow — Wells Fargo analysts continue to move ratings/targets across sectors (cuts on Aptiv, upgrades in chemicals, positive calls on travel and retail names). This shows robust research activity that can influence trading in other names but is not directly catalytic for WFC’s fundamentals. Wells Fargo Cuts Aptiv Price Target Wells Fargo Upgrades Chemical Stocks
• Negative Sentiment: Earnings, revenue and operational concerns remain — MarketBeat highlights that WFC missed revenue/earnings expectations in January, has a relatively high efficiency ratio vs. peers, and saw headline risk from reported exposure to the failed U.K. mortgage finance firm Market Financial Solutions; those issues help explain selling pressure and could limit near-term multiple expansion. Bargain Alert: Wells Fargo and Goldman Sachs Look Deeply Oversold

Wells Fargo & Company Stock Down 1.5%

Shares of Wells Fargo & Company stock opened at $74.11 on Friday. The stock has a market capitalization of $228.67 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 0.81 and a beta of 1.08. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.05. The business’s 50 day simple moving average is $87.72 and its 200-day simple moving average is $86.50.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. The business had revenue of $21.29 billion during the quarter, compared to analyst estimates of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.43 EPS. Equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Friday, February 6th were given a dividend of $0.45 per share. The ex-dividend date was Friday, February 6th. This represents a $1.80 annualized dividend and a dividend yield of 2.4%. Wells Fargo & Company’s dividend payout ratio is currently 28.71%.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.