Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 378,145 shares of the financial services provider's stock, valued at approximately $18,612,000. Wells Fargo & Company makes up 1.4% of Cantor Fitzgerald Investment Advisors L.P.'s portfolio, making the stock its 22nd biggest position.
Several other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in Wells Fargo & Company during the fourth quarter valued at approximately $2,623,044,000. Northern Trust Corp grew its holdings in Wells Fargo & Company by 0.3% in the third quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider's stock valued at $1,560,755,000 after purchasing an additional 129,300 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Wells Fargo & Company by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,237,905 shares of the financial services provider's stock valued at $1,143,770,000 after purchasing an additional 526,178 shares during the period. Dimensional Fund Advisors LP grew its holdings in Wells Fargo & Company by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 18,941,772 shares of the financial services provider's stock valued at $932,352,000 after purchasing an additional 596,521 shares during the period. Finally, Pzena Investment Management LLC grew its holdings in Wells Fargo & Company by 1.9% in the third quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider's stock valued at $746,484,000 after purchasing an additional 335,560 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
WFC has been the topic of several research analyst reports. StockNews.com raised Wells Fargo & Company from a "sell" rating to a "hold" rating in a report on Monday, April 15th. Oppenheimer reissued a "market perform" rating on shares of Wells Fargo & Company in a report on Monday, April 15th. The Goldman Sachs Group raised their price objective on Wells Fargo & Company from $57.00 to $65.00 and gave the company a "buy" rating in a report on Monday, April 1st. Jefferies Financial Group lifted their price target on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a "hold" rating in a research note on Monday, April 8th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $63.00 price target (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Fourteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $58.99.
Check Out Our Latest Analysis on WFC
Wells Fargo & Company Trading Up 0.9 %
Shares of Wells Fargo & Company stock traded up $0.53 during trading hours on Friday, hitting $60.21. The company's stock had a trading volume of 9,913,040 shares, compared to its average volume of 16,097,602. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The firm has a fifty day moving average of $59.03 and a 200-day moving average of $52.56. The stock has a market cap of $209.91 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 1.59 and a beta of 1.18. 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:WFC - Get Free Report) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the prior year, the company posted $1.23 EPS. The company's quarterly revenue was up .6% on a year-over-year basis. Research analysts forecast that Wells Fargo & Company will post 5.08 EPS for the current year.
Wells Fargo & Company Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Thursday, May 9th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 29.23%.
Wells Fargo & Company Company Profile
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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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