Empower Advisory Group LLC Has $8.16 Million Stock Holdings in Wells Fargo & Company $WFC

Empower Advisory Group LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 22.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,856 shares of the financial services provider’s stock after buying an additional 18,562 shares during the period. Empower Advisory Group LLC’s holdings in Wells Fargo & Company were worth $8,161,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Access Investment Management LLC acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at $25,000. McElhenny Sheffield Capital Management LLC bought a new position in Wells Fargo & Company in the second quarter valued at about $27,000. CBIZ Investment Advisory Services LLC boosted its stake in shares of Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 322 shares in the last quarter. Accent Capital Management LLC acquired a new stake in shares of Wells Fargo & Company during the first quarter valued at about $29,000. Finally, Motco grew its holdings in shares of Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 326 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $84.98 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The firm’s fifty day simple moving average is $83.71 and its two-hundred day simple moving average is $79.92. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $88.64. The stock has a market capitalization of $266.77 billion, a P/E ratio of 13.98, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, beating the consensus estimate of $1.55 by $0.18. The company had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.42 EPS. As a group, analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is currently 29.61%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WFC. Weiss Ratings upgraded shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, October 8th. TD Cowen raised their price target on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Barclays lifted their price target on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Cfra Research upgraded Wells Fargo & Company to a “moderate buy” rating in a report on Wednesday, October 15th. Finally, Truist Financial raised their target price on Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $89.57.

Wells Fargo & Company Profile

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