Wells Fargo & Company $WFC Shares Bought by MGO One Seven LLC

MGO One Seven LLC raised its position in Wells Fargo & Company (NYSE:WFC) by 8.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 34,215 shares of the financial services provider’s stock after acquiring an additional 2,557 shares during the quarter. MGO One Seven LLC’s holdings in Wells Fargo & Company were worth $2,741,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Wells Fargo & Company by 2,735,254.3% during 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 purchasing an additional 949,735,001 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Wells Fargo & Company by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider’s stock worth $1,471,259,000 after purchasing an additional 128,207 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Wells Fargo & Company by 277.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock worth $771,092,000 after purchasing an additional 7,894,919 shares during the period. Boston Partners grew its stake in shares of Wells Fargo & Company by 6.2% during the 1st quarter. Boston Partners now owns 8,953,009 shares of the financial services provider’s stock worth $640,616,000 after purchasing an additional 523,107 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Wells Fargo & Company by 10.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,009,440 shares of the financial services provider’s stock worth $431,418,000 after purchasing an additional 544,473 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of recent analyst reports. 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. 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. UBS Group lowered their price target 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. Morgan Stanley cut shares of Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $87.00 to $90.00 in a research note on Monday, September 29th. Finally, Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $86.77.

Wells Fargo & Company Stock Up 7.1%

WFC opened at $84.51 on Wednesday. The firm has a 50 day moving average price of $80.79 and a 200 day moving average price of $76.67. The company has a market cap of $270.71 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.27 and a beta of 1.25. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $86.65. 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 posted its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. The firm had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.42 EPS. Sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were given a dividend of $0.45 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is currently 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.