Amundi Pioneer Asset Management Inc. Has $304.55 Million Position in Wells Fargo & Company (NYSE:WFC)


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Amundi Pioneer Asset Management Inc. lessened its position in Wells Fargo & Company (NYSE:WFC) by 22.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,090,958 shares of the financial services provider’s stock after selling 2,876,204 shares during the quarter. Amundi Pioneer Asset Management Inc.’s holdings in Wells Fargo & Company were worth $304,546,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hoover Financial Advisors Inc. acquired a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $30,000. RMR Wealth Builders acquired a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $30,000. Flagship Private Wealth LLC acquired a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $31,000. Key Financial Inc acquired a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $31,000. Finally, Safeguard Investment Advisory Group LLC acquired a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $34,000. 67.25% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE WFC opened at $39.99 on Thursday. The stock has a market capitalization of $165.32 billion, a PE ratio of 108.08, a P/E/G ratio of 4.84 and a beta of 1.07. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.87 and a quick ratio of 0.85. The business has a fifty day moving average price of $38.49 and a two-hundred day moving average price of $30.39. Wells Fargo & Company has a fifty-two week low of $20.76 and a fifty-two week high of $41.54.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Thursday, January 14th. The financial services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.04. Wells Fargo & Company had a return on equity of 3.18% and a net margin of 3.72%. The company had revenue of $17.93 billion during the quarter, compared to analysts’ expectations of $18 billion. During the same quarter in the previous year, the firm earned $0.93 EPS. Wells Fargo & Company’s revenue was down 9.7% on a year-over-year basis. On average, equities analysts expect that Wells Fargo & Company will post 0.48 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, March 1st. Stockholders of record on Friday, February 5th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, February 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.00%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 9.13%.

A number of research analysts have weighed in on the company. Raymond James raised their price target on Wells Fargo & Company from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, March 3rd. Credit Suisse Group upgraded Wells Fargo & Company from a “neutral” rating to an “outperform” rating and raised their price target for the company from $35.00 to $40.00 in a research note on Monday, January 25th. Keefe, Bruyette & Woods raised their price target on Wells Fargo & Company from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 18th. DA Davidson raised their price target on Wells Fargo & Company from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, January 19th. Finally, Barclays raised their price target on Wells Fargo & Company from $36.00 to $42.00 and gave the company an “equal weight” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $35.00.

Wells Fargo & Company Profile

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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

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