Livforsakringsbolaget Skandia Omsesidigt Invests $4.49 Million in Wells Fargo & Company $WFC

Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 54,322 shares of the financial services provider’s stock, valued at approximately $4,489,000.

A number of other institutional investors also recently modified their holdings of WFC. Godfrey Financial Associates Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter worth $25,000. Miller Capital Partners Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter worth about $25,000. Navalign LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $26,000. Phillip James Consulting Co. bought a new stake in Wells Fargo & Company in the 1st quarter valued at about $28,000. Finally, Core Wealth Advisors LLC bought a new stake in Wells Fargo & Company in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 1.9%

NYSE WFC opened at $86.62 on Friday. The firm has a market capitalization of $261.94 billion, a P/E ratio of 12.59, a PEG ratio of 0.92 and a beta of 0.92. The business has a fifty day simple moving average of $86.27 and a 200 day simple moving average of $82.71. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.23. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The firm had revenue of $22.62 billion for the quarter, compared to the consensus estimate of $21.86 billion. During the same period in the previous year, the firm earned $1.60 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, analysts predict that Wells Fargo & Company will post 7.26 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, August 7th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.3%. Wells Fargo & Company’s payout ratio is 29.07%.

Analysts Set New Price Targets

Several brokerages have issued reports on WFC. Raymond James Financial reiterated a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 14th. Robert W. Baird upped their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Phillip Securities upgraded Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, May 7th. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Finally, UBS Group decreased their price target on shares of Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.61.

Wells Fargo & Company News Summary

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Wells Fargo is reportedly seeking to recruit hundreds of independent financial advisers, expanding its Wealth & Investment Management division and targeting affluent and high-net-worth clients. The initiative builds on a multiyear overhaul and could support fee-based revenue, asset growth and deeper customer relationships. WFC Broadens Wealth Focus: Can Its Multi-Year Revamp Drive Growth?
• Positive Sentiment: The wealth-management push follows an approximately $1.5 billion revamp and emphasizes independent advisers who can use Wells Fargo’s platform and infrastructure. Successful hiring and retention could improve the division’s long-term growth prospects, although benefits will take time to materialize. Wells Fargo Steps Up Wealth Hiring After $1.5 Billion Revamp
• Neutral Sentiment: Analysts collectively maintain a “Moderate Buy” recommendation for Wells Fargo. The rating indicates generally constructive sentiment, but it does not represent a new earnings forecast or a clearly identifiable catalyst. Wells Fargo Given Average Recommendation of Moderate Buy by Analysts
• Neutral Sentiment: A market-focused report noted that WFC advanced even as the broader market declined, suggesting relative investor support. The article did not identify a major new earnings announcement, guidance change or regulatory development behind the move. Wells Fargo Gains As Market Dips: What You Should Know

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.