5,850 Shares in Wells Fargo & Company (NYSE:WFC) Acquired by Ameriflex Group Inc.

Ameriflex Group Inc. bought a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,850 shares of the financial services provider's stock, valued at approximately $411,000.

Several other large investors also recently bought and sold shares of WFC. Rialto Wealth Management LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $26,000. Investment Counsel Co. of Nevada acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at approximately $28,000. BNP Paribas acquired a new position in Wells Fargo & Company during the fourth quarter worth $28,000. Rakuten Securities Inc. raised its position in Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock worth $30,000 after acquiring an additional 237 shares during the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of analyst reports. Citigroup cut their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Phillip Securities raised Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, April 14th. Raymond James lowered their price objective on shares of Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating for the company in a research report on Monday, April 14th. Finally, Bank of America lowered their price objective on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of "Moderate Buy" and a consensus price target of $75.73.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock traded up $0.11 on Friday, hitting $74.62. The company had a trading volume of 17,037,870 shares, compared to its average volume of 17,441,691. The business has a 50-day simple moving average of $70.07 and a 200-day simple moving average of $72.90. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market cap of $242.83 billion, a PE ratio of 13.87, a PEG ratio of 1.18 and a beta of 1.13. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.16. The business had revenue of $20.15 billion during the quarter, compared to analysts' expectations of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business's revenue was down 3.4% on a year-over-year basis. During the same period last year, the firm posted $1.20 earnings per share. Research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company declared that its Board of Directors has authorized a stock buyback plan on Tuesday, April 29th that permits the company to buyback $40.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 17.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 9th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Friday, May 9th. Wells Fargo & Company's payout ratio is currently 28.73%.

Wells Fargo & Company Company Profile

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.