Premier Path Wealth Partners LLC Reduces Stake in Wells Fargo & Company

Premier Path Wealth Partners LLC has decreased its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 47.4% during the fourth quarter, based on their latest filing with the Securities and Exchange Commission (SEC). As a result of selling 20,835 shares during this period, the institutional investor now owns 23,131 shares of the financial services provider, valued at approximately $1,625,000 at the close of the reporting period.

Several other institutional investors have also made recent adjustments to their positions in WFC. For example, Income Research & Management acquired a new stake in Wells Fargo during the third quarter, valued at around $211,000. Additionally, Mattson Financial Services LLC purchased a new position in the second quarter worth roughly $25,000. Modus Advisors LLC invested in Wells Fargo in the fourth quarter, with an estimated value of $30,000. Strategic Investment Solutions Inc. IL likewise acquired shares during the second quarter for about $26,000. Lastly, Decker Retirement Planning Inc. made a new investment in Wells Fargo in the fourth quarter worth approximately $32,000. It's noted that 75.90% of the stock is owned by institutional investors.

Analyst Insights

Recent reports from various equities research analysts highlight the stock's performance and forecast. Morgan Stanley raised their price target for Wells Fargo from $84.00 to $88.00, giving it an "overweight" rating. Meanwhile, UBS Group increased their target from $69.00 to $85.00 and assigned a "buy" rating. Phillip Securities upgraded Wells Fargo from a "neutral" to an "accumulate" rating and set a new target price of $65.00. Compass Point also increased its target from $60.00 to $83.00, labeling the stock as "neutral". Piper Sandler raised their price expectation from $62.00 to $75.00, maintaining a "neutral" rating. Overall, twelve analysts have rated the stock with a hold recommendation, while ten analysts have a buy recommendation, as seen in data compiled by MarketBeat.com, which indicates a consensus rating of "Hold" and an average target price of $72.17.

Wells Fargo Stock Performance Overview

Wells Fargo's stock opened at $77.22 recently. The company holds a market capitalization of $257.11 billion, a P/E ratio of 16.05, and a PEG ratio of 1.39, with a beta of 1.18. The stock has seen a low of $46.12 and a high of $78.13 over the past fifty-two weeks. Its debt-to-equity ratio stands at 1.09, with a quick and current ratio of 0.85. The 50-day moving average price is $72.60 while the 200-day moving average price is $63.33.

Recent Earnings and Dividend Announcements

Wells Fargo released its quarterly earnings on January 15th. The financial services provider reported an earnings per share (EPS) of $1.43, exceeding analysts' expectations of $1.34 by $0.09. They recorded revenue of $20.38 billion, slightly below the analysts’ estimates of $20.58 billion. The company had a net margin of 14.43% and a return on equity of 12.25%. This represents a revenue decrease of 0.5% compared to the previous year’s quarter when they posted an EPS of $0.86. For the current year, analysts predict that Wells Fargo will achieve an EPS of 5.45.

The firm announced its quarterly dividend, which was distributed on December 1st. Investors who were on record as of November 8th received a dividend payment of $0.40, marking a $1.60 annualized dividend and a yield of 2.07%. The payout ratio for Wells Fargo currently stands at 33.26%.

Company Profile

Wells Fargo & Company is a diversified financial services firm that offers a variety of banking, investment, mortgage, and finance products and services both in the United States and internationally. The company operates through four main segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

WellsFargo, Investment, Stock