Avanza Fonder AB Purchases Shares of 9,961 Wells Fargo & Company $WFC

Avanza Fonder AB purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,961 shares of the financial services provider’s stock, valued at approximately $928,000.

Other hedge funds also recently made changes to their positions in the company. Redmont Wealth Advisors LLC bought a new stake in Wells Fargo & Company in the third quarter valued at approximately $27,000. Marquette Asset Management LLC raised its holdings in Wells Fargo & Company by 472.4% during the 3rd quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 274 shares during the last quarter. Grey Fox Wealth Advisors LLC bought a new position in Wells Fargo & Company during the 3rd quarter worth approximately $30,000. Imprint Wealth LLC acquired a new position in shares of Wells Fargo & Company in the 3rd quarter worth approximately $31,000. Finally, Kilter Group LLC acquired a new position in shares of Wells Fargo & Company in the 2nd quarter worth approximately $31,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $79.61 on Wednesday. The firm has a 50 day moving average of $85.17 and a 200-day moving average of $86.32. The company has a market cap of $245.64 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 0.85 and a beta of 1.08. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.05. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $97.76.

Wells Fargo & Company (NYSE:WFC) last released its earnings results 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 company had revenue of $21.29 billion for the quarter, compared to the consensus estimate of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. Wells Fargo & Company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.43 EPS. On average, equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Shareholders of record on Friday, February 6th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, February 6th. Wells Fargo & Company’s payout ratio is 28.71%.

Insider Activity

In other news, EVP Kleber Santos sold 25,000 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $87.72, for a total transaction of $2,193,000.00. Following the transaction, the executive vice president owned 79,876 shares in the company, valued at approximately $7,006,722.72. This represents a 23.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ellen R. Patterson sold 60,000 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the transaction, the executive vice president directly owned 169,496 shares in the company, valued at $14,813,950.40. This trade represents a 26.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 115,000 shares of company stock worth $10,050,000. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on WFC shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Wednesday, January 21st. JPMorgan Chase & Co. boosted their target price on shares of Wells Fargo & Company from $99.00 to $99.50 and gave the company a “neutral” rating in a report on Monday, February 9th. Wolfe Research reaffirmed an “outperform” rating and set a $109.00 price target on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $92.00 to $101.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. Finally, Barclays lifted their price objective on Wells Fargo & Company from $94.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Thirteen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $96.82.

About Wells Fargo & Company

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.