Northwestern Mutual Wealth Management Co. increased its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 12.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 202,951 shares of the financial services provider’s stock after acquiring an additional 22,629 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Wells Fargo & Co were worth $5,824,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Your Advocates Ltd. LLP acquired a new stake in shares of Wells Fargo & Co during the 1st quarter valued at about $26,000. Evolution Wealth Advisors LLC boosted its position in shares of Wells Fargo & Co by 119.5% during the 4th quarter. Evolution Wealth Advisors LLC now owns 562 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 306 shares in the last quarter. Howard Wealth Management LLC acquired a new stake in shares of Wells Fargo & Co during the 4th quarter valued at about $35,000. Total Clarity Wealth Management Inc. acquired a new stake in shares of Wells Fargo & Co during the 4th quarter valued at about $35,000. Finally, Wealth Quarterback LLC acquired a new stake in shares of Wells Fargo & Co during the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 74.93% of the company’s stock.
Several brokerages recently issued reports on WFC. BMO Capital Markets cut their price target on shares of Wells Fargo & Co from $37.00 to $35.00 and set a “market perform” rating for the company in a report on Wednesday, April 15th. UBS Group downgraded shares of Wells Fargo & Co from a “neutral” rating to a “sell” rating and set a $19.00 price target for the company. in a report on Monday, May 4th. Nomura Securities reissued a “buy” rating and set a $31.00 price target on shares of Wells Fargo & Co in a report on Thursday, April 16th. Citigroup cut their price target on shares of Wells Fargo & Co from $43.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, March 27th. Finally, Cfra raised shares of Wells Fargo & Co from a “sell” rating to a “hold” rating and cut their price target for the company from $48.00 to $42.00 in a report on Wednesday, March 4th. Six analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $38.93.
In other news, Director Charles H. Noski acquired 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average price of $29.53 per share, for a total transaction of $590,600.00. Following the completion of the acquisition, the director now owns 74 shares in the company, valued at $2,185.22. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles W. Scharf acquired 173,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average price of $28.69 per share, with a total value of $4,963,370.00. Following the acquisition, the chief executive officer now owns 176,916 shares of the company’s stock, valued at approximately $5,075,720.04. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.
Shares of NYSE:WFC opened at $24.17 on Friday. Wells Fargo & Co has a one year low of $22.00 and a one year high of $54.75. The company has a 50 day moving average of $27.22 and a 200-day moving average of $42.32. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.87 and a quick ratio of 0.85. The stock has a market cap of $100.29 billion, a price-to-earnings ratio of 8.54, a P/E/G ratio of 3.05 and a beta of 1.18.
Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.85). The firm had revenue of $17.72 billion for the quarter, compared to analyst estimates of $19.40 billion. Wells Fargo & Co had a net margin of 14.52% and a return on equity of 9.28%. The firm’s revenue for the quarter was down 18.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.20 EPS. Equities research analysts anticipate that Wells Fargo & Co will post 0.79 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 8.44%. The ex-dividend date of this dividend is Thursday, May 7th. Wells Fargo & Co’s dividend payout ratio is currently 46.58%.
Wells Fargo & Co Profile
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.
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