Prudential Financial Inc. grew its holdings in Wells Fargo & Co (NYSE:WFC) by 22.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,685,310 shares of the financial services provider’s stock after buying an additional 1,391,703 shares during the quarter. Wells Fargo & Co accounts for approximately 0.6% of Prudential Financial Inc.’s holdings, making the stock its 26th biggest holding. Prudential Financial Inc. owned 0.16% of Wells Fargo & Co worth $354,140,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Bell & Brown Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Co during the 4th quarter worth about $5,462,000. Rikoon Group LLC acquired a new stake in Wells Fargo & Co in the 4th quarter valued at about $229,000. Rational Advisors LLC boosted its stake in shares of Wells Fargo & Co by 818.4% in the 4th quarter. Rational Advisors LLC now owns 139,006 shares of the financial services provider’s stock valued at $6,405,000 after purchasing an additional 123,871 shares during the last quarter. Piedmont Investment Advisors Inc. boosted its stake in shares of Wells Fargo & Co by 39.8% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 62,988 shares of the financial services provider’s stock valued at $2,902,000 after purchasing an additional 17,938 shares during the last quarter. Finally, Check Capital Management Inc. CA boosted its stake in shares of Wells Fargo & Co by 15.2% in the 4th quarter. Check Capital Management Inc. CA now owns 1,180,650 shares of the financial services provider’s stock valued at $54,404,000 after purchasing an additional 155,465 shares during the last quarter. Institutional investors own 71.44% of the company’s stock.

Wells Fargo & Co stock opened at $50.35 on Friday. Wells Fargo & Co has a fifty-two week low of $43.02 and a fifty-two week high of $59.53. The company has a market cap of $242.18 billion, a P/E ratio of 11.50, a PEG ratio of 0.90 and a beta of 1.12. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.87 and a current ratio of 0.88.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings results on Tuesday, January 15th. The financial services provider reported $1.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.04. Wells Fargo & Co had a net margin of 22.95% and a return on equity of 13.34%. The firm had revenue of $20.98 billion for the quarter, compared to analyst estimates of $21.80 billion. During the same quarter in the previous year, the firm posted $1.16 earnings per share. The business’s revenue was down 4.9% on a year-over-year basis. Analysts expect that Wells Fargo & Co will post 4.96 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 1st were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, January 31st. This is an increase from Wells Fargo & Co’s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.57%. Wells Fargo & Co’s dividend payout ratio (DPR) is 41.10%.

Several brokerages have recently issued reports on WFC. Robert W. Baird reaffirmed a “buy” rating and issued a $59.00 target price on shares of Wells Fargo & Co in a research note on Wednesday, January 2nd. ValuEngine lowered shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a research note on Wednesday, December 12th. Wolfe Research lowered shares of Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 8th. Barclays reduced their target price on shares of Wells Fargo & Co from $66.00 to $64.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 2nd. Finally, Credit Suisse Group reduced their target price on shares of Wells Fargo & Co from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, December 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $61.33.

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Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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