Breakwater Capital Group Decreases Stake in Wells Fargo & Company (NYSE:WFC)

Breakwater Capital Group decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,187 shares of the financial services provider’s stock after selling 217 shares during the quarter. Breakwater Capital Group’s holdings in Wells Fargo & Company were worth $1,207,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. MRA Advisory Group acquired a new position in Wells Fargo & Company during the 4th quarter worth approximately $219,000. Johnson & White Wealth Management LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth $312,000. Traveka Wealth LLC raised its stake in Wells Fargo & Company by 23.1% in the fourth quarter. Traveka Wealth LLC now owns 4,895 shares of the financial services provider’s stock valued at $344,000 after buying an additional 920 shares in the last quarter. PFW Advisors LLC purchased a new stake in Wells Fargo & Company during the 4th quarter worth about $775,000. Finally, Signet Financial Management LLC increased its holdings in shares of Wells Fargo & Company by 0.4% in the 4th quarter. Signet Financial Management LLC now owns 56,916 shares of the financial services provider’s stock valued at $3,998,000 after acquiring an additional 230 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WFC has been the subject of a number of research analyst reports. Barclays upped their price target on Wells Fargo & Company from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Morgan Stanley reduced their price target on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. The Goldman Sachs Group raised their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Compass Point boosted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Wolfe Research upgraded 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 note on Tuesday, October 8th. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average target price of $69.92.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $70.59 on Tuesday. The company has a 50-day moving average of $72.27 and a two-hundred day moving average of $63.07. The stock has a market cap of $235.03 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.47 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. 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 Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.14. The firm had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.39 EPS. On average, equities research analysts expect that Wells Fargo & Company will post 5.43 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were paid a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.27%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 33.26%.

Insiders Place Their Bets

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the business’s 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 completion of the sale, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. The trade was a 26.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.08% of the company’s stock.

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.