20,786 Shares in Wells Fargo & Company $WFC Bought by Ransom Advisory Ltd

Key Points

• Ransom Advisory Ltd has acquired a significant stake in Wells Fargo & Company, purchasing 20,786 shares valued at approximately $1.49 million.
• The company's stock has risen 2.0% and has a current market cap of $258.55 billion, with a P/E ratio of 13.82.
• Wells Fargo recently increased its quarterly dividend to $0.45 per share, resulting in a yield of 2.2% and reflecting a payout ratio of 30.82%.

Ransom Advisory Ltd bought a new position in Wells Fargo & Company (NYSE:WFC) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 20,786 shares of the financial services provider's stock, valued at approximately $1,492,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in Wells Fargo & Company by 277.4% in the 1st 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 during the last quarter. GAMMA Investing LLC raised its holdings in shares of Wells Fargo & Company by 7,887.9% in the first quarter. GAMMA Investing LLC now owns 3,393,083 shares of the financial services provider's stock valued at $243,589,000 after purchasing an additional 3,350,605 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $198,801,000. Theleme Partners LLP bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth $187,049,000. Finally, Zurich Insurance Group Ltd FI acquired a new position in Wells Fargo & Company during the fourth quarter worth $117,280,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Stock Up 2.0%

Wells Fargo & Company stock opened at $80.71 on Wednesday. The company's 50-day moving average price is $80.51 and its two-hundred day moving average price is $75.05. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The stock has a market cap of $258.55 billion, a P/E ratio of 13.82, a P/E/G ratio of 1.23 and a beta of 1.25. Wells Fargo & Company has a twelve month low of $50.22 and a twelve month high of $84.83.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.13. The company had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $1.33 earnings per share. As a group, analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. Wells Fargo & Company's dividend payout ratio is currently 30.82%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WFC. TD Cowen initiated coverage on shares of Wells Fargo & Company in a research report on Thursday, May 15th. They set a "hold" rating and a $83.00 price target on the stock. Evercore ISI reaffirmed an "outperform" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. The Goldman Sachs Group reduced their price target on Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Citigroup restated a "neutral" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Finally, Raymond James Financial cut Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research note on Monday, July 7th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, Wells Fargo & Company has an average rating of "Moderate Buy" and a consensus target price of $82.56.

About Wells Fargo & Company

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.

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