Premier Path Wealth Partners LLC Has $2 Million Stake in Wells Fargo & Company $WFC

Premier Path Wealth Partners LLC boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 6.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,959 shares of the financial services provider’s stock after purchasing an additional 1,593 shares during the period. Premier Path Wealth Partners LLC’s holdings in Wells Fargo & Company were worth $2,000,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in WFC. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Wells Fargo & Company by 2,735,254.3% during 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 buying an additional 949,735,001 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in 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 acquiring an additional 7,894,919 shares during the period. Strs Ohio purchased a new position in Wells Fargo & Company during the 1st quarter valued at about $109,643,000. Canada Pension Plan Investment Board grew its stake in Wells Fargo & Company by 34.6% during the 1st 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 in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Wells Fargo & Company by 30.5% in the 1st quarter. Principal Financial Group Inc. now owns 4,926,423 shares of the financial services provider’s stock valued at $353,668,000 after purchasing an additional 1,152,181 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on WFC shares. UBS Group decreased their price target on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Phillip Securities cut shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Finally, Bank of America lifted their price objective on Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.57.

Wells Fargo & Company Trading Down 1.0%

Wells Fargo & Company stock opened at $86.02 on Thursday. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $87.47. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $275.56 billion, a PE ratio of 14.15, a PEG ratio of 1.19 and a beta of 1.25. The business’s 50-day simple moving average is $82.42 and its 200-day simple moving average is $78.27.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.11. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The company had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. During the same period last year, the business posted $1.42 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.61%.

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.