AG2R LA Mondiale Gestion D Actifs Acquires New Shares in Wells Fargo & Company $WFC

Key Points

• AG2R LA Mondiale Gestion D Actifs acquired 121,287 shares of Wells Fargo & Company, valued at approximately $9,070,000, in the first quarter.
• Wells Fargo reported earnings of $1.54 per share, exceeding estimates, and revealed a recent quarterly dividend increase from $0.40 to $0.45 per share.
• The stock of Wells Fargo has a market capitalization of $259.93 billion and a price-to-earnings (P/E) ratio of 13.89.

AG2R LA Mondiale Gestion D Actifs bought a new position in Wells Fargo & Company (NYSE:WFC - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 121,287 shares of the financial services provider's stock, valued at approximately $9,070,000.

Other large investors have also modified their holdings of the company. Safeguard Investment Advisory Group LLC raised its holdings in shares of Wells Fargo & Company by 2.4% in the fourth quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider's stock worth $410,000 after buying an additional 137 shares during the last quarter. Summit Wealth & Retirement Planning Inc. boosted its position in Wells Fargo & Company by 4.3% in the first quarter. Summit Wealth & Retirement Planning Inc. now owns 3,362 shares of the financial services provider's stock valued at $241,000 after buying an additional 139 shares during the last quarter. Nwam LLC boosted its position in Wells Fargo & Company by 1.6% in the first quarter. Nwam LLC now owns 8,806 shares of the financial services provider's stock valued at $632,000 after buying an additional 142 shares during the last quarter. PGIM Custom Harvest LLC boosted its position in Wells Fargo & Company by 3.5% in the first quarter. PGIM Custom Harvest LLC now owns 4,225 shares of the financial services provider's stock valued at $303,000 after buying an additional 142 shares during the last quarter. Finally, Tradition Wealth Management LLC boosted its position in Wells Fargo & Company by 0.5% in the first quarter. Tradition Wealth Management LLC now owns 30,420 shares of the financial services provider's stock valued at $2,184,000 after buying an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Up 1.0%

Shares of NYSE:WFC opened at $81.14 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. The business has a fifty day moving average of $80.42 and a two-hundred day moving average of $75.12. The stock has a market cap of $259.93 billion, a P/E ratio of 13.89, a PEG ratio of 1.25 and a beta of 1.25. Wells Fargo & Company has a 52-week low of $50.22 and a 52-week high of $84.83.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.13. The company had revenue of $20.82 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the business earned $1.33 EPS. On average, research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were issued a dividend of $0.45 per share. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. Wells Fargo & Company's dividend payout ratio (DPR) is 30.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Cowen reiterated a "hold" rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Wall Street Zen upgraded Wells Fargo & Company from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. Citigroup restated a "neutral" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. The Goldman Sachs Group lowered their price objective on 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. Finally, Evercore ISI restated an "outperform" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Ten investment 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.com, Wells Fargo & Company presently has an average rating of "Moderate Buy" and a consensus price target 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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