Marco Investment Management LLC Grows Stock Holdings in Wells Fargo & Company $WFC

Marco Investment Management LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 18.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,334 shares of the financial services provider’s stock after purchasing an additional 5,383 shares during the quarter. Marco Investment Management LLC’s holdings in Wells Fargo & Company were worth $2,831,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in WFC. Wealth Management Partners LLC increased its position in Wells Fargo & Company by 3.5% during the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 128 shares during the period. Verum Partners LLC grew its holdings in shares of Wells Fargo & Company by 1.8% in the 2nd quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock worth $582,000 after acquiring an additional 128 shares during the period. Motive Wealth Advisors increased its position in shares of Wells Fargo & Company by 3.7% in the second quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock valued at $293,000 after buying an additional 129 shares in the last quarter. Exencial Wealth Advisors LLC increased its holdings in Wells Fargo & Company by 0.7% during the 2nd quarter. Exencial Wealth Advisors LLC now owns 18,009 shares of the financial services provider’s stock valued at $1,443,000 after acquiring an additional 131 shares in the last quarter. Finally, Yukon Wealth Management Inc. raised its position in shares of Wells Fargo & Company by 4.3% during the 2nd quarter. Yukon Wealth Management Inc. now owns 3,179 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 132 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WFC has been the subject of a number of analyst reports. Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. The Goldman Sachs Group cut their target price on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Weiss Ratings raised Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, October 8th. Finally, 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 research report on Tuesday, October 7th. Eleven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $86.05 on Friday. The stock has a market cap of $270.11 billion, a P/E ratio of 14.15, a PEG ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $88.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a 50-day moving average of $83.25 and a two-hundred day moving average of $79.27.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data 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. The company had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.Wells Fargo & Company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 EPS. On average, research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, November 7th. Wells Fargo & Company’s payout ratio is currently 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.