Wells Fargo & Company $WFC Shares Purchased by Private Wealth Group LLC

Private Wealth Group LLC lifted its stake in Wells Fargo & Company (NYSE:WFC) by 7.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,490 shares of the financial services provider’s stock after purchasing an additional 320 shares during the period. Private Wealth Group LLC’s holdings in Wells Fargo & Company were worth $360,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WFC. Brighton Jones LLC lifted its stake in shares of Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after purchasing an additional 25,436 shares during the period. Vest Financial LLC raised its position in Wells Fargo & Company by 73.5% during the first quarter. Vest Financial LLC now owns 27,256 shares of the financial services provider’s stock worth $1,957,000 after acquiring an additional 11,547 shares during the last quarter. Signal Advisors Wealth LLC raised its position in Wells Fargo & Company by 19.3% during the first quarter. Signal Advisors Wealth LLC now owns 5,871 shares of the financial services provider’s stock worth $421,000 after acquiring an additional 950 shares during the last quarter. Procyon Advisors LLC raised its position in Wells Fargo & Company by 2.8% during the first quarter. Procyon Advisors LLC now owns 6,823 shares of the financial services provider’s stock worth $490,000 after acquiring an additional 184 shares during the last quarter. Finally, Elk River Wealth Management LLC acquired a new position in Wells Fargo & Company during the first quarter worth about $201,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on WFC shares. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday. Evercore ISI lifted their target price on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research report on Tuesday. Morgan Stanley cut shares of Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $87.00 to $90.00 in a research report on Monday, September 29th. Raymond James Financial downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 7th. Finally, Citigroup lifted 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. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.74.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $80.63 on Friday. Wells Fargo & Company has a 1 year low of $55.98 and a 1 year high of $86.65. The firm has a 50 day moving average price of $80.77 and a 200 day moving average price of $76.31. The company has a market cap of $258.28 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.24 and a beta of 1.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The firm had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. During the same period in the previous year, the firm earned $1.33 earnings per share. Wells Fargo & Company’s revenue was up .6% compared to the same quarter last year. Sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

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

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.