Joel Isaacson & Co. LLC Has $3.74 Million Holdings in Wells Fargo & Company $WFC

Joel Isaacson & Co. LLC lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 0.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 46,630 shares of the financial services provider’s stock after selling 214 shares during the period. Joel Isaacson & Co. LLC’s holdings in Wells Fargo & Company were worth $3,736,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of WFC. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Wells Fargo & Company by 2,735,254.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after acquiring an additional 949,735,001 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Wells Fargo & Company by 277.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock valued at $771,092,000 after purchasing an additional 7,894,919 shares during the period. Strs Ohio bought a new stake in shares of Wells Fargo & Company during the 1st quarter valued at about $109,643,000. Canada Pension Plan Investment Board boosted its position in shares of Wells Fargo & Company by 34.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock valued at $381,016,000 after purchasing an additional 1,365,629 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Wells Fargo & Company by 30.5% during the first quarter. Principal Financial Group Inc. now owns 4,926,423 shares of the financial services provider’s stock worth $353,668,000 after purchasing an additional 1,152,181 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on WFC. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday. Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Raymond James Financial downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 7th. Citigroup raised their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Finally, Evercore ISI lifted their price target on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.74.

Wells Fargo & Company Trading Down 0.0%

Shares of Wells Fargo & Company stock opened at $80.63 on Tuesday. The company has a market capitalization of $258.29 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 1.24 and a beta of 1.25. The stock has a fifty day simple moving average of $80.72 and a 200 day simple moving average of $76.39. Wells Fargo & Company has a 12-month low of $56.80 and a 12-month high of $86.65. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The business had revenue of $20.82 billion for the quarter, compared to analysts’ expectations of $20.83 billion. During the same period last year, the business earned $1.33 EPS. The business’s revenue was up .6% on a year-over-year basis. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a $0.45 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio is currently 30.82%.

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.