Fiduciary Family Office LLC Purchases Shares of 38,948 Wells Fargo & Company (NYSE:WFC)

Fiduciary Family Office LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC) during the first quarter, HoldingsChannel.com reports. The fund purchased 38,948 shares of the financial services provider’s stock, valued at approximately $2,796,000. Wells Fargo & Company makes up approximately 0.9% of Fiduciary Family Office LLC’s portfolio, making the stock its 13th largest holding.

Other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors lifted its position in shares of Wells Fargo & Company by 932.0% in the fourth quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider’s stock worth $1,105,218,000 after purchasing an additional 14,210,193 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position 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 worth $771,092,000 after acquiring an additional 7,894,919 shares in the last quarter. GAMMA Investing LLC raised its position in Wells Fargo & Company by 7,887.9% during the first quarter. GAMMA Investing LLC now owns 3,393,083 shares of the financial services provider’s stock worth $243,589,000 after acquiring an additional 3,350,605 shares in the last quarter. Northern Trust Corp raised its position in Wells Fargo & Company by 10.7% during the fourth quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider’s stock worth $2,411,992,000 after acquiring an additional 3,307,855 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Wells Fargo & Company during the fourth quarter worth $198,801,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC stock opened at $77.78 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a 12 month low of $50.22 and a 12 month high of $84.83. The firm has a market cap of $249.16 billion, a P/E ratio of 13.32, a P/E/G ratio of 1.20 and a beta of 1.20. The company’s 50-day moving average price is $78.92 and its two-hundred day moving average price is $74.97.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The company had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.83 billion. During the same period last year, the company posted $1.33 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company announced that its board has authorized a share repurchase plan on Tuesday, April 29th that authorizes the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 17.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 8th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, August 8th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio is 27.40%.

Analyst Upgrades and Downgrades

WFC has been the topic of several analyst reports. The Goldman Sachs Group dropped their price target on shares of 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. Dbs Bank raised shares of Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Phillip Securities lowered shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Citigroup reaffirmed a “neutral” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Finally, Barclays dropped their price target on shares of Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.39.

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.