Alyeska Investment Group L.P. Has $25.43 Million Holdings in Wells Fargo & Company $WFC

Alyeska Investment Group L.P. increased its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 183.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 307,759 shares of the financial services provider's stock after buying an additional 199,014 shares during the period. Alyeska Investment Group L.P.'s holdings in Wells Fargo & Company were worth $25,433,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of WFC. Godfrey Financial Associates Inc. bought a new stake in Wells Fargo & Company in the fourth quarter valued at $25,000. Miller Capital Partners Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $25,000. Navalign LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $26,000. Phillip James Consulting Co. bought a new stake in shares of Wells Fargo & Company during the first quarter worth about $28,000. Finally, Core Wealth Advisors LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $86.62 on Monday. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The stock's 50 day moving average price is $86.27 and its 200-day moving average price is $82.63. The company has a market capitalization of $261.94 billion, a PE ratio of 12.59, a PEG ratio of 0.94 and a beta of 0.92. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.73 by $0.23. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The company had revenue of $22.62 billion during the quarter, compared to the consensus estimate of $21.86 billion. During the same period last year, the business posted $1.60 earnings per share. Wells Fargo & Company's revenue was up 8.6% on a year-over-year basis. On average, equities analysts anticipate that Wells Fargo & Company will post 7.26 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, August 7th. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 2.3%. Wells Fargo & Company's dividend payout ratio (DPR) is currently 29.07%.

Analysts Set New Price Targets

Several brokerages recently weighed in on WFC. JPMorgan Chase & Co. raised their price target on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. Bank of America boosted their price objective on Wells Fargo & Company from $95.00 to $102.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Truist Financial increased their price objective on Wells Fargo & Company from $90.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, June 26th. Raymond James Financial restated a "market perform" rating on shares of Wells Fargo & Company in a report on Tuesday, July 14th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Wells Fargo & Company in a research report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $98.61.

More Wells Fargo & Company News

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

• Positive Sentiment: Wells Fargo is reportedly seeking to recruit hundreds of independent financial advisers, expanding its Wealth & Investment Management division and targeting affluent and high-net-worth clients. The initiative builds on a multiyear overhaul and could support fee-based revenue, asset growth and deeper customer relationships. WFC Broadens Wealth Focus: Can Its Multi-Year Revamp Drive Growth?
• Positive Sentiment: The wealth-management push follows an approximately $1.5 billion revamp and emphasizes independent advisers who can use Wells Fargo’s platform and infrastructure. Successful hiring and retention could improve the division’s long-term growth prospects, although benefits will take time to materialize. Wells Fargo Steps Up Wealth Hiring After $1.5 Billion Revamp
• Neutral Sentiment: Analysts collectively maintain a “Moderate Buy” recommendation for Wells Fargo. The rating indicates generally constructive sentiment, but it does not represent a new earnings forecast or a clearly identifiable catalyst. Wells Fargo Given Average Recommendation of Moderate Buy by Analysts
• Neutral Sentiment: A market-focused report noted that WFC advanced even as the broader market declined, suggesting relative investor support. The article did not identify a major new earnings announcement, guidance change or regulatory development behind the move. Wells Fargo Gains As Market Dips: What You Should Know

Wells Fargo & Company Company Profile

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.

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