Andra AP fonden Raises Position in Wells Fargo & Company $WFC

Andra AP fonden raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 11.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 439,700 shares of the financial services provider’s stock after acquiring an additional 44,900 shares during the period. Andra AP fonden’s holdings in Wells Fargo & Company were worth $35,005,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after acquiring an additional 25,436 shares during the last quarter. Jump Financial LLC raised its position in Wells Fargo & Company by 12.9% during the second quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider’s stock valued at $1,835,000 after purchasing an additional 2,615 shares in the last quarter. Main Street Financial Solutions LLC lifted its stake in Wells Fargo & Company by 111.0% during the second quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider’s stock worth $1,122,000 after purchasing an additional 7,368 shares during the last quarter. Vivaldi Capital Management LP boosted its holdings in shares of Wells Fargo & Company by 5.4% in the 2nd quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 165 shares in the last quarter. Finally, Diversify Advisory Services LLC increased its position in shares of Wells Fargo & Company by 51.2% during the 2nd quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider’s stock valued at $2,044,000 after purchasing an additional 8,714 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WFC has been the topic of a number of research reports. KGI Securities cut Wells Fargo & Company to a “hold” rating in a report on Thursday, April 16th. HSBC upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Wednesday, April 1st. The Goldman Sachs Group decreased their price target on shares of Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating on the stock in a research note on Monday, March 23rd. Bank of America upped their price objective on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a report on Friday. Two equities 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $98.50.

Wells Fargo & Company Stock Down 1.5%

Shares of Wells Fargo & Company stock opened at $86.24 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76. The company’s 50 day moving average price is $81.70 and its 200-day moving average price is $83.63. The stock has a market capitalization of $263.90 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 0.96 and a beta of 0.92.

Wells Fargo & Company Announces Dividend

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