Prospera Financial Services Inc Raises Stock Holdings in Wells Fargo & Company $WFC

Prospera Financial Services Inc raised its holdings in Wells Fargo & Company (NYSE:WFC) by 24.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 207,919 shares of the financial services provider’s stock after acquiring an additional 41,075 shares during the period. Prospera Financial Services Inc’s holdings in Wells Fargo & Company were worth $16,660,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt raised its holdings 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 valued at $76,095,550,000 after buying 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% in the first 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Wells Fargo & Company by 277.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock valued at $771,092,000 after buying an additional 7,894,919 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of Wells Fargo & Company by 5.5% in the 2nd quarter. Pzena Investment Management LLC now owns 10,371,812 shares of the financial services provider’s stock valued at $830,990,000 after purchasing an additional 542,493 shares during the period. Finally, Boston Partners boosted its position in shares of Wells Fargo & Company by 6.2% in the first quarter. Boston Partners now owns 8,953,009 shares of the financial services provider’s stock worth $640,616,000 after buying an additional 523,107 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Truist Financial boosted their price target on Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Phillip Securities lowered Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Barclays upped their target price on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” 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 note on Saturday, October 4th. Finally, Cowen reaffirmed a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company Stock Up 0.0%

Wells Fargo & Company stock opened at $86.05 on Friday. The firm has a market cap of $270.11 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 1.18 and a beta of 1.22. 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 50 day moving average price of $83.25 and a two-hundred day moving average price of $79.27. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $88.50.

Wells Fargo & Company (NYSE:WFC) last announced 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 return on equity of 12.51% and a net margin of 17.18%.The business had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. During the same quarter in the prior year, the company posted $1.42 earnings per share. Wells Fargo & Company’s revenue was up 5.3% compared to the same quarter last year. Equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

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

Wells Fargo & 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.