Intrua Financial LLC Sells 2,107 Shares of Wells Fargo & Company (NYSE:WFC)

Posted by Defense World Staff on Mar 30th, 2023

Intrua Financial LLC reduced its holdings in Wells Fargo & Company (NYSE:WFC – Get Rating) by 17.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,740 shares of the financial services provider’s stock after selling 2,107 shares during the period. Intrua Financial LLC’s holdings in Wells Fargo & Company were worth $418,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Financial Management Professionals Inc. boosted its stake in Wells Fargo & Company by 66.6% in the 3rd quarter. Financial Management Professionals Inc. now owns 688 shares of the financial services provider’s stock valued at $28,000 after buying an additional 275 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in Wells Fargo & Company in the fourth quarter valued at about $34,000. Orion Capital Management LLC increased its holdings in Wells Fargo & Company by 125.0% in the third quarter. Orion Capital Management LLC now owns 900 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 500 shares during the last quarter. Lam Group Inc. bought a new stake in Wells Fargo & Company in the fourth quarter valued at about $37,000. Finally, Worth Asset Management LLC bought a new stake in Wells Fargo & Company in the first quarter valued at about $40,000. 72.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Wells Fargo & Company news, EVP Kleber Santos sold 34,698 shares of Wells Fargo & Company stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $46.27, for a total transaction of $1,605,476.46. Following the transaction, the executive vice president now directly owns 19,590 shares of the company’s stock, valued at approximately $906,429.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.05% of the company’s stock.

Wells Fargo & Company Trading Up 2.1 %

Shares of WFC stock opened at $37.97 on Thursday. The stock’s fifty day moving average price is $44.07 and its two-hundred day moving average price is $43.85. The company has a market cap of $143.42 billion, a PE ratio of 12.09, a P/E/G ratio of 0.76 and a beta of 1.17. Wells Fargo & Company has a fifty-two week low of $35.25 and a fifty-two week high of $53.30. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.84 and a current ratio of 0.84.

Wells Fargo & Company (NYSE:WFC – Get Rating) last released its quarterly earnings data on Friday, January 13th. The financial services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. Wells Fargo & Company had a return on equity of 9.28% and a net margin of 15.91%. The company had revenue of $19.66 billion for the quarter, compared to the consensus estimate of $20.04 billion. During the same quarter last year, the business posted $1.38 EPS. Wells Fargo & Company’s revenue for the quarter was down 5.7% on a year-over-year basis. Equities analysts predict that Wells Fargo & Company will post 4.8 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 3rd were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Thursday, February 2nd. Wells Fargo & Company’s payout ratio is presently 38.22%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Cfra upgraded Wells Fargo & Company to a “buy” rating and set a $50.00 price target for the company in a report on Friday, January 13th. Citigroup raised their price objective on Wells Fargo & Company from $48.00 to $52.00 in a research report on Tuesday, January 17th. Royal Bank of Canada cut their price objective on Wells Fargo & Company from $45.00 to $42.00 and set a “sector perform” rating for the company in a research report on Friday, March 24th. Piper Sandler lowered Wells Fargo & Company from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $49.00 to $47.00 in a research note on Tuesday, January 17th. Finally, Odeon Capital Group lowered Wells Fargo & Company from a “buy” rating to a “hold” rating in a research note on Monday, March 13th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and an average price target of $51.88.

Wells Fargo & Company Profile

(Get Rating)

Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage products and services, and consumer and commercial finance. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management.