Great Lakes Retirement Inc. Purchases 18,961 Shares of Wells Fargo & Company $WFC

Great Lakes Retirement Inc. increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 61.2% during the second quarter, HoldingsChannel reports. The fund owned 49,950 shares of the financial services provider’s stock after buying an additional 18,961 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Wells Fargo & Company were worth $4,002,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of WFC. CBIZ Investment Advisory Services LLC grew its position in Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 322 shares during the last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in Wells Fargo & Company during the 2nd quarter worth $27,000. Motco grew its position in Wells Fargo & Company by 397.6% during the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 326 shares during the last quarter. Accent Capital Management LLC bought a new stake in Wells Fargo & Company during the 1st quarter worth $29,000. Finally, 1248 Management LLC bought a new stake in Wells Fargo & Company during the 1st quarter worth $31,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 1.4%

Shares of Wells Fargo & Company stock opened at $87.19 on Friday. Wells Fargo & Company has a one year low of $58.42 and a one year high of $87.47. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. The stock’s 50-day moving average is $82.75 and its 200 day moving average is $78.49. The firm has a market cap of $279.30 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.18 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, beating the consensus estimate of $1.55 by $0.11. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. During the same quarter in the prior year, the company earned $1.42 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WFC shares. Phillip Securities lowered Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Morgan Stanley upped their price target on Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. UBS Group reduced their price target on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Bank of America upped their price target on Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, Evercore ISI upped their price target on Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average target price of $89.57.

About Wells Fargo & Company

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.