Naviter Wealth LLC increased its holdings in Wells Fargo & Company (NYSE:WFC – Free Report) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,903 shares of the financial services provider’s stock after buying an additional 307 shares during the period. Naviter Wealth LLC’s holdings in Wells Fargo & Company were worth $2,877,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in WFC. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Wells Fargo & Company by 2,735,254.3% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after acquiring an additional 949,735,001 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Wells Fargo & Company by 277.4% in the first 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 acquiring an additional 7,894,919 shares during the last quarter. Strs Ohio bought a new position in Wells Fargo & Company in the first quarter valued at approximately $109,643,000. Canada Pension Plan Investment Board increased its stake in Wells Fargo & Company by 34.6% in the first 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 acquiring an additional 1,365,629 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Wells Fargo & Company by 30.5% in the first quarter. Principal Financial Group Inc. now owns 4,926,423 shares of the financial services provider’s stock valued at $353,668,000 after acquiring an additional 1,152,181 shares during the last quarter. 75.90% of the stock is owned by institutional investors.
Wells Fargo & Company Stock Performance
Shares of Wells Fargo & Company stock opened at $78.92 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $86.65. The stock has a market cap of $252.80 billion, a price-to-earnings ratio of 13.51, a P/E/G ratio of 1.25 and a beta of 1.25. The company’s fifty day moving average is $80.66 and its 200 day moving average is $76.61.
Wells Fargo & Company Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were paid a $0.45 dividend. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s payout ratio is presently 30.82%.
Analyst Ratings Changes
A number of brokerages recently issued reports on WFC. UBS Group decreased their price objective on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Citigroup boosted their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Raymond James Financial cut shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, Dbs Bank raised shares of Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Nine research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $85.41.
Read Our Latest Stock Report on WFC
Wells Fargo & Company 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.
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