Empowered Funds LLC Raises Position in Wells Fargo & Company $WFC

Empowered Funds LLC grew its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 85.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 685,602 shares of the financial services provider's stock after purchasing an additional 316,856 shares during the period. Empowered Funds LLC's holdings in Wells Fargo & Company were worth $54,581,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Godfrey Financial Associates Inc. purchased a new position in Wells Fargo & Company during the fourth quarter worth $25,000. Miller Capital Partners Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $25,000. Navalign LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $26,000. Joseph Group Capital Management purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $28,000. Finally, Phillip James Consulting Co. bought a new stake in shares of Wells Fargo & Company in the 1st quarter worth about $28,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Up 1.1%

Shares of Wells Fargo & Company stock opened at $87.28 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76. The firm's 50-day moving average is $82.97 and its two-hundred day moving average is $83.35. The stock has a market cap of $267.08 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 0.94 and a beta of 0.92.

Wall Street Analyst Weigh In

A number of research firms recently commented on WFC. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the stock an "equal weight" rating in a research note on Monday, June 29th. Phillip Securities raised shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Raymond James Financial restated a "market perform" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 14th. JPMorgan Chase & Co. boosted their target price on Wells Fargo & Company from $86.50 to $93.50 and gave the company a "neutral" rating in a research report on Monday, July 6th. Finally, Robert W. Baird upped their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.50.

About Wells Fargo & Company

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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