Beaton Management Co. Inc. Has $512,000 Stake in Wells Fargo & Company (NYSE:WFC)

Beaton Management Co. Inc. decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 5.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,400 shares of the financial services provider’s stock after selling 650 shares during the period. Beaton Management Co. Inc.’s holdings in Wells Fargo & Company were worth $512,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. First Financial Corp IN raised its stake in Wells Fargo & Company by 4.9% in the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after buying an additional 214 shares during the period. CX Institutional increased its stake in shares of Wells Fargo & Company by 1.1% during the fourth quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock worth $998,000 after purchasing an additional 217 shares during the period. Cassaday & Co Wealth Management LLC increased its stake in shares of Wells Fargo & Company by 4.1% during the fourth quarter. Cassaday & Co Wealth Management LLC now owns 5,645 shares of the financial services provider’s stock worth $278,000 after purchasing an additional 224 shares during the period. ERTS Wealth Advisors LLC increased its stake in Wells Fargo & Company by 3.5% during the 4th quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock worth $331,000 after acquiring an additional 228 shares during the period. Finally, One Capital Management LLC increased its stake in Wells Fargo & Company by 0.6% during the 4th quarter. One Capital Management LLC now owns 36,268 shares of the financial services provider’s stock worth $1,785,000 after acquiring an additional 228 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

WFC has been the topic of a number of recent research reports. HSBC raised their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Evercore ISI lifted their target price on Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Morgan Stanley lifted their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, The Goldman Sachs Group lifted their price objective on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Fourteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target of $58.99.

Wells Fargo & Company Stock Down 0.9 %

WFC stock traded down $0.53 during mid-day trading on Wednesday, reaching $60.93. 10,292,079 shares of the company traded hands, compared to its average volume of 18,570,125. The stock has a market cap of $212.42 billion, a price-to-earnings ratio of 12.75, a P/E/G ratio of 1.17 and a beta of 1.18. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55. The firm’s 50 day moving average price is $58.87 and its 200 day moving average price is $52.15.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the previous year, the business earned $1.23 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. As a group, equities research analysts predict that Wells Fargo & Company will post 5.08 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be paid a $0.35 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.30%. Wells Fargo & Company’s payout ratio is presently 29.23%.

About Wells Fargo & Company

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.