Cohen Investment Advisors LLC Increases Stake in Wells Fargo & Company (NYSE:WFC)

Cohen Investment Advisors LLC raised its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 502.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 267,167 shares of the financial services provider's stock after buying an additional 222,803 shares during the period. Wells Fargo & Company comprises 0.5% of Cohen Investment Advisors LLC's portfolio, making the stock its 27th largest holding. Cohen Investment Advisors LLC's holdings in Wells Fargo & Company were worth $19,180,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Modera Wealth Management LLC increased its holdings in Wells Fargo & Company by 14.1% during the fourth quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider's stock valued at $1,444,000 after buying an additional 2,548 shares during the last quarter. Cornerstone Advisors LLC boosted its position in shares of Wells Fargo & Company by 2.1% in the fourth quarter. Cornerstone Advisors LLC now owns 204,200 shares of the financial services provider's stock worth $14,343,000 after purchasing an additional 4,200 shares during the period. Metis Global Partners LLC boosted its position in shares of Wells Fargo & Company by 4.0% in the fourth quarter. Metis Global Partners LLC now owns 172,335 shares of the financial services provider's stock worth $12,105,000 after purchasing an additional 6,668 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Wells Fargo & Company by 12.1% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 651,808 shares of the financial services provider's stock worth $45,783,000 after purchasing an additional 70,104 shares during the period. Finally, Marble Harbor Investment Counsel LLC boosted its position in shares of Wells Fargo & Company by 4.2% in the fourth quarter. Marble Harbor Investment Counsel LLC now owns 130,504 shares of the financial services provider's stock worth $9,167,000 after purchasing an additional 5,215 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WFC. Citigroup dropped their price target 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. TD Cowen began coverage on shares of Wells Fargo & Company in a research report on Thursday, May 15th. They issued a "hold" rating and a $83.00 price target for the company. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $76.00 to $86.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Royal Bank Of Canada upgraded shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target for the company in a research report on Thursday, March 13th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Wells Fargo & Company in a research report on Wednesday, June 18th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $77.98.

Wells Fargo & Company Price Performance

WFC stock opened at $79.42 on Friday. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The company has a fifty day simple moving average of $73.88 and a two-hundred day simple moving average of $73.07. The firm has a market capitalization of $258.44 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.33 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 16.19% and a return on equity of 12.15%. The business had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 billion. During the same quarter last year, the business earned $1.20 earnings per share. Wells Fargo & Company's quarterly revenue was down 3.4% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were issued a $0.40 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.01%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 28.73%.

Wells Fargo & Company announced that its board has initiated a stock buyback program on Tuesday, April 29th that permits the company to repurchase $40.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 17.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

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.

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