Prudential PLC Sells 45,533 Shares of Wells Fargo & Company (NYSE:WFC)

Prudential PLC cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 20.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 181,946 shares of the financial services provider’s stock after selling 45,533 shares during the period. Prudential PLC’s holdings in Wells Fargo & Company were worth $8,955,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Arlington Trust Co LLC acquired a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Tennessee Valley Asset Management Partners purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth $29,000. Fortis Group Advisors LLC purchased a new position in shares of Wells Fargo & Company during the third quarter worth $25,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth $32,000. Finally, Atlantic Edge Private Wealth Management LLC purchased a new position in Wells Fargo & Company in the fourth quarter valued at $34,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WFC has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Evercore ISI lifted their target price on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. The Goldman Sachs Group lifted their target price on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Citigroup reiterated a “neutral” rating and issued a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Finally, Argus lifted their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Fourteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $58.99.

View Our Latest Report on WFC

Wells Fargo & Company Trading Up 1.1 %

Shares of Wells Fargo & Company stock traded up $0.61 on Friday, reaching $58.34. The company had a trading volume of 14,466,726 shares, compared to its average volume of 18,129,621. The firm’s 50 day moving average price is $59.36 and its two-hundred day moving average price is $53.60. The firm has a market cap of $203.39 billion, a PE ratio of 12.18, a PEG ratio of 1.54 and a beta of 1.17. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87.

Wells Fargo & Company (NYSE:WFCGet Free Report) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the prior year, the firm earned $1.23 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Sell-side analysts predict that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.40%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s payout ratio is currently 29.23%.

Wells Fargo & Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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