MGO One Seven LLC Purchases 50,561 Shares of Wells Fargo & Company $WFC

MGO One Seven LLC grew its position in Wells Fargo & Company (NYSE:WFC) by 110.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,300 shares of the financial services provider's stock after buying an additional 50,561 shares during the quarter. MGO One Seven LLC's holdings in Wells Fargo & Company were worth $8,975,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Diversified Trust Co. raised its position in shares of Wells Fargo & Company by 59.7% in the 4th quarter. Diversified Trust Co. now owns 35,285 shares of the financial services provider's stock worth $3,289,000 after acquiring an additional 13,196 shares in the last quarter. Mawer Investment Management Ltd. bought a new stake in Wells Fargo & Company during the third quarter valued at about $147,165,000. Guerra Advisors Inc boosted its position in Wells Fargo & Company by 43.2% during the third quarter. Guerra Advisors Inc now owns 38,439 shares of the financial services provider's stock valued at $3,222,000 after purchasing an additional 11,594 shares in the last quarter. AlphaQuest LLC grew its stake in Wells Fargo & Company by 1,121.0% in the third quarter. AlphaQuest LLC now owns 24,079 shares of the financial services provider's stock valued at $2,018,000 after purchasing an additional 22,107 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in Wells Fargo & Company by 52.7% in the third quarter. UMB Bank n.a. now owns 138,862 shares of the financial services provider's stock valued at $11,639,000 after purchasing an additional 47,946 shares during the last quarter. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $79.11 on Friday. Wells Fargo & Company has a fifty-two week low of $71.89 and a fifty-two week high of $97.76. The company has a market cap of $242.09 billion, a PE ratio of 12.21, a P/E/G ratio of 0.94 and a beta of 0.96. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. The business has a 50-day simple moving average of $80.47 and a two-hundred day simple moving average of $86.11.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.02. The firm had revenue of $11.62 billion for the quarter, compared to the consensus estimate of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The company's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.39 earnings per share. As a group, equities analysts expect that Wells Fargo & Company will post 6.82 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. Wells Fargo & Company's dividend payout ratio (DPR) is currently 27.78%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Royal Bank Of Canada reissued an "outperform" rating and set a $100.00 price target on shares of Wells Fargo & Company in a research report on Thursday, January 15th. Truist Financial cut their price objective on shares of Wells Fargo & Company from $98.00 to $94.00 and set a "buy" rating on the stock in a research report on Tuesday, March 17th. Argus boosted their price objective on shares of Wells Fargo & Company from $94.00 to $101.00 and gave the stock a "buy" rating in a research note on Thursday, January 15th. Robert W. Baird raised shares of Wells Fargo & Company from an "underperform" rating to a "neutral" rating and set a $85.00 target price for the company in a research report on Friday, February 13th. Finally, KGI Securities downgraded shares of Wells Fargo & Company to a "hold" rating in a research note on Thursday, April 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of "Moderate Buy" and an average target price of $97.53.

Insiders Place Their Bets

In related news, EVP Ellen R. Patterson sold 60,000 shares of the company's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $87.40, for a total value of $5,244,000.00. Following the transaction, the executive vice president directly owned 169,496 shares of the company's stock, valued at $14,813,950.40. This represents a 26.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kleber Santos sold 25,000 shares of the company's stock in a transaction on Friday, February 20th. The shares were sold at an average price of $87.72, for a total value of $2,193,000.00. Following the completion of the transaction, the executive vice president directly owned 79,876 shares in the company, valued at approximately $7,006,722.72. The trade was a 23.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 115,000 shares of company stock valued at $10,050,000. Insiders own 0.14% of the company's stock.

Wells Fargo & 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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