GW&K Investment Management LLC Has $40.20 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

GW&K Investment Management LLC cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 0.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 837,832 shares of the financial services provider’s stock after selling 4,941 shares during the quarter. GW&K Investment Management LLC’s holdings in Wells Fargo & Company were worth $40,199,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. lifted its stake in Wells Fargo & Company by 7.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 75,246 shares of the financial services provider’s stock worth $3,610,000 after purchasing an additional 5,248 shares during the period. United Capital Financial Advisers LLC lifted its stake in Wells Fargo & Company by 20.4% during the third quarter. United Capital Financial Advisers LLC now owns 478,446 shares of the financial services provider’s stock worth $22,205,000 after purchasing an additional 81,211 shares during the period. Dimensional Fund Advisors LP lifted its stake in Wells Fargo & Company by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 17,436,578 shares of the financial services provider’s stock worth $809,311,000 after purchasing an additional 63,959 shares during the period. Dynamic Advisor Solutions LLC lifted its stake in Wells Fargo & Company by 10.0% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 13,645 shares of the financial services provider’s stock worth $655,000 after purchasing an additional 1,244 shares during the period. Finally, Jupiter Wealth Management LLC lifted its stake in Wells Fargo & Company by 8.1% during the third quarter. Jupiter Wealth Management LLC now owns 107,567 shares of the financial services provider’s stock worth $5,417,000 after purchasing an additional 8,025 shares during the period. 74.01% of the stock is currently owned by institutional investors and hedge funds.

In other Wells Fargo & Company news, EVP Kleber Santos sold 22,700 shares of Wells Fargo & Company stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $44.44, for a total transaction of $1,008,788.00. Following the completion of the sale, the executive vice president now owns 21,478 shares of the company’s stock, valued at approximately $954,482.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.05% of the stock is currently owned by insiders.

A number of brokerages have commented on WFC. Morgan Stanley cut their price target on shares of Wells Fargo & Company from $72.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, March 28th. The Goldman Sachs Group lifted their target price on shares of Wells Fargo & Company from $54.00 to $56.00 in a research note on Thursday, April 14th. Atlantic Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “overweight” rating and set a $60.00 target price for the company in a research note on Tuesday, February 1st. Piper Sandler cut their target price on shares of Wells Fargo & Company from $67.00 to $63.00 and set an “overweight” rating for the company in a research note on Thursday, March 31st. Finally, BMO Capital Markets cut their target price on shares of Wells Fargo & Company from $64.00 to $60.00 and set a “market perform” rating for the company in a research note on Monday, April 18th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of “Buy” and a consensus target price of $59.08.

Shares of Wells Fargo & Company stock traded down $0.33 during midday trading on Friday, reaching $41.67. The company had a trading volume of 35,410,447 shares, compared to its average volume of 24,612,690. The stock has a fifty day simple moving average of $47.13 and a 200 day simple moving average of $50.32. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.95. Wells Fargo & Company has a 1-year low of $40.74 and a 1-year high of $60.30. The company has a market capitalization of $157.94 billion, a price-to-earnings ratio of 8.66, a price-to-earnings-growth ratio of 0.99 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC – Get Rating) last released its earnings results on Thursday, April 14th. The financial services provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. Wells Fargo & Company had a net margin of 25.35% and a return on equity of 12.20%. The firm had revenue of $17.59 billion during the quarter, compared to analyst estimates of $17.82 billion. During the same quarter in the previous year, the business earned $1.05 EPS. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. Sell-side analysts expect that Wells Fargo & Company will post 4.14 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Friday, May 6th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Thursday, May 5th. Wells Fargo & Company’s dividend payout ratio is presently 20.79%.

About Wells Fargo & Company (Get Rating)

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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