AIA Group Ltd Has $30.72 Million Stake in Wells Fargo & Company $WFC

AIA Group Ltd boosted its position in Wells Fargo & Company (NYSE:WFC) by 19.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 385,894 shares of the financial services provider’s stock after buying an additional 62,001 shares during the quarter. AIA Group Ltd’s holdings in Wells Fargo & Company were worth $30,721,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WFC. Private Wealth Group LLC lifted its stake in Wells Fargo & Company by 2.5% in the 4th quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 108 shares during the last quarter. Nixon Peabody Trust Co. grew its position in Wells Fargo & Company by 3.6% during the fourth quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock worth $312,000 after buying an additional 115 shares in the last quarter. Simmons Bank grew its holdings in shares of Wells Fargo & Company by 1.9% during the 4th quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 116 shares in the last quarter. Moss Adams Wealth Advisors LLC increased its holdings in Wells Fargo & Company by 1.0% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider’s stock valued at $1,123,000 after buying an additional 117 shares during the period. Finally, Wood Tarver Financial Group LLC increased its stake in Wells Fargo & Company by 1.6% in the fourth quarter. Wood Tarver Financial Group LLC now owns 7,754 shares of the financial services provider’s stock valued at $722,000 after acquiring an additional 120 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Key Wells Fargo & Company News

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

• Positive Sentiment: Wells Fargo reported stronger-than-expected Q2 results, with adjusted EPS of $1.96 topping Wall Street’s $1.72 estimate, driven by higher fee income, investment banking activity and net interest income. Wells Fargo CEO Says America Is Still Spending Big—Even With Inflation Concerns
• Positive Sentiment: Wells Fargo was upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about its earnings outlook and adding another bullish signal for investors. Wells Fargo (WFC) Upgraded to Buy: Here’s What You Should Know
• Positive Sentiment: Analysts remain constructive after the bank’s earnings beat, with industry commentary highlighting strong Q2 performance across major banks including Wells Fargo. Revving Up Returns: Big Banks Race Through the Rate Plateau (WFC)
• Neutral Sentiment: Wells Fargo also appeared in commentary noting that big bank earnings beat estimates, but some of the profit strength came from lower loan-loss reserves, which may be less repeatable going forward. Revving Up Returns: Big Banks Race Through the Rate Plateau (WFC)
• Neutral Sentiment: Wells Fargo’s housing-market index showed weaker homebuilder confidence in July, a modest macroeconomic headwind for the bank’s mortgage-related business. U.S. Homebuilder Confidence Unexpectedly Deteriorates In July

Analyst Ratings Changes

WFC has been the topic of a number of recent analyst reports. Morgan Stanley lifted their target price on Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Raymond James Financial reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research report on Tuesday. KGI Securities downgraded shares of Wells Fargo & Company to a “hold” rating in a research report on Thursday, April 16th. Piper Sandler restated an “overweight” rating and set a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a research report on Wednesday, April 15th. Finally, Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $98.50.

Wells Fargo & Company Trading Down 0.6%

Shares of Wells Fargo & Company stock opened at $87.52 on Friday. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76. The stock has a fifty day moving average price of $81.44 and a 200-day moving average price of $83.77. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $267.82 billion, a PE ratio of 12.72, a P/E/G ratio of 0.97 and a beta of 0.92.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company’s payout ratio is 26.16%.

About Wells Fargo & Company

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.