AIA Group Ltd Sells 9,575 Shares of Wells Fargo & Company (NYSE:WFC)

AIA Group Ltd reduced its position in Wells Fargo & Company (NYSE:WFC) by 27.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,200 shares of the financial services provider’s stock after selling 9,575 shares during the period. AIA Group Ltd’s holdings in Wells Fargo & Company were worth $1,240,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Fortis Group Advisors LLC bought a new position in Wells Fargo & Company during the 3rd quarter valued at $25,000. Arlington Trust Co LLC bought a new position in Wells Fargo & Company during the 4th quarter valued at $25,000. Leith Wheeler Investment Counsel Ltd. lifted its stake in Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 356,620 shares in the last quarter. Studio Investment Management LLC bought a new position in Wells Fargo & Company during the 4th quarter valued at $28,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company during the 1st quarter valued at $28,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Up 0.6 %

Shares of WFC opened at $59.10 on Friday. The business has a 50-day moving average of $55.63 and a 200 day moving average of $48.68. Wells Fargo & Company has a fifty-two week low of $36.40 and a fifty-two week high of $59.26. The firm has a market cap of $209.24 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 1.11 and a beta of 1.19. 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) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. The company had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.23 EPS. As a group, research analysts forecast that Wells Fargo & Company will post 5.04 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s payout ratio is presently 29.23%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on WFC shares. Morgan Stanley raised their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday. The Goldman Sachs Group raised their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $51.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Compass Point reaffirmed a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday. Thirteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company Profile

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.