Wells Fargo & Company $WFC Shares Bought by Victory Financial Group LLC

Victory Financial Group LLC boosted its stake in shares of Wells Fargo & Company (NYSE:WFCFree Report) by 226.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,262 shares of the financial services provider’s stock after purchasing an additional 16,822 shares during the period. Victory Financial Group LLC’s holdings in Wells Fargo & Company were worth $2,261,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Capital Research Global Investors raised its holdings in shares of Wells Fargo & Company by 18.6% in the third quarter. Capital Research Global Investors now owns 35,660,903 shares of the financial services provider’s stock worth $2,989,104,000 after buying an additional 5,584,930 shares during the last quarter. Danske Bank A S purchased a new stake in shares of Wells Fargo & Company during the third quarter valued at $215,638,000. M&G PLC increased its position in shares of Wells Fargo & Company by 320.3% in the 3rd quarter. M&G PLC now owns 2,946,277 shares of the financial services provider’s stock valued at $247,487,000 after acquiring an additional 2,245,307 shares during the period. Amundi increased its position in shares of Wells Fargo & Company by 18.2% in the 2nd quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock valued at $1,165,868,000 after acquiring an additional 2,180,693 shares during the period. Finally, Mawer Investment Management Ltd. purchased a new position in Wells Fargo & Company in the 3rd quarter worth $147,165,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. TD Cowen lowered their price target on Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, January 15th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Wednesday, January 21st. The Goldman Sachs Group decreased their target price on Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Argus upped their target price on Wells Fargo & Company from $94.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Finally, Morgan Stanley cut their price target on shares of Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating on the stock in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average price target of $98.13.

View Our Latest Research Report on Wells Fargo & Company

Wells Fargo & Company Price Performance

Shares of WFC opened at $79.52 on Wednesday. The business’s 50-day moving average is $84.20 and its two-hundred day moving average is $86.25. The company has a market capitalization of $245.38 billion, a P/E ratio of 12.68, a P/E/G ratio of 0.82 and a beta of 1.08. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $97.76. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.90 and a current ratio of 0.90.

Wells Fargo & Company (NYSE:WFCGet Free Report) last issued its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.10. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The business had revenue of $21.29 billion during the quarter, compared to analysts’ expectations of $21.63 billion. During the same quarter in the previous year, the firm posted $1.43 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Friday, February 6th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, February 6th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 28.71%.

Key Headlines Impacting Wells Fargo & Company

Here are the key news stories impacting Wells Fargo & Company this week:

Insider Activity at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Kleber Santos sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $87.72, for a total value of $2,193,000.00. Following the completion of the transaction, the executive vice president directly owned 79,876 shares of the company’s stock, valued at approximately $7,006,722.72. The trade was a 23.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Bridget E. Engle sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $87.10, for a total value of $2,613,000.00. Following the completion of the sale, the executive vice president owned 83,478 shares in the company, valued at approximately $7,270,933.80. This represents a 26.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 115,000 shares of company stock worth $10,050,000. 0.14% of the stock is owned by corporate insiders.

Wells Fargo & Company Company Profile

(Free Report)

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

Read More

Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.