Groupama Asset Managment Has $10.45 Million Stock Position in Wells Fargo & Company $WFC

Key Points

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Groupama Asset Managment increased its position in Wells Fargo & Company (NYSE:WFC) by 95.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 147,888 shares of the financial services provider's stock after purchasing an additional 72,236 shares during the quarter. Groupama Asset Managment's holdings in Wells Fargo & Company were worth $10,454,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WFC. Brighton Jones LLC increased its position in Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider's stock worth $4,652,000 after purchasing an additional 25,436 shares during the period. MML Investors Services LLC increased its position in Wells Fargo & Company by 11.1% in the fourth quarter. MML Investors Services LLC now owns 448,224 shares of the financial services provider's stock worth $31,483,000 after purchasing an additional 44,909 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in Wells Fargo & Company by 7.3% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,718 shares of the financial services provider's stock worth $331,000 after purchasing an additional 319 shares during the period. TD Waterhouse Canada Inc. increased its position in Wells Fargo & Company by 83.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 196,774 shares of the financial services provider's stock worth $13,829,000 after purchasing an additional 89,669 shares during the period. Finally, Wealth Dimensions Group Ltd. acquired a new stake in Wells Fargo & Company in the fourth quarter worth about $210,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of research reports. Citigroup reiterated a "neutral" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Wall Street Zen cut Wells Fargo & Company from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Bank of America raised their target price on Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Raymond James Financial cut Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 7th. Finally, TD Cowen assumed coverage on Wells Fargo & Company in a report on Thursday, May 15th. They set a "hold" rating and a $83.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $81.58.

Wells Fargo & Company Trading Up 0.5%

NYSE WFC opened at $77.46 on Tuesday. The stock has a market capitalization of $248.14 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 1.20 and a beta of 1.20. The stock's 50 day moving average price is $79.23 and its two-hundred day moving average price is $74.93. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. 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 released its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.41 by $0.13. The firm had revenue of $20.82 billion for 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 business's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.33 EPS. As a group, analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 8th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, August 8th. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. Wells Fargo & Company's dividend payout ratio (DPR) is presently 30.82%.

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