QRG Capital Management Inc. Has $44.42 Million Stock Holdings in Wells Fargo & Company $WFC

Key Points

• QRG Capital Management increased its Wells Fargo stake by 8.7% in the first quarter, buying 44,771 more shares and bringing its total holdings to 557,958 shares worth about $44.4 million.
• Wells Fargo reported Q1 earnings of $1.60 per share, topping estimates by $0.02, while revenue rose 6.4% year over year. The company also said it paid a quarterly dividend of $0.45 per share, implying a 2.1% annual yield.
• Analysts remain generally constructive on the stock, with a consensus rating of Moderate Buy and an average price target of $98.34. Recent commentary highlighted higher price targets and expectations for improved earnings ahead.

QRG Capital Management Inc. boosted its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 8.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 557,958 shares of the financial services provider's stock after buying an additional 44,771 shares during the period. QRG Capital Management Inc.'s holdings in Wells Fargo & Company were worth $44,419,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Investors Asset Management of Georgia Inc. GA ADV raised its stake in Wells Fargo & Company by 2.3% during the 1st quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 18,070 shares of the financial services provider's stock worth $1,439,000 after buying an additional 404 shares during the period. Baer Investment Advisory LLC acquired a new stake in Wells Fargo & Company in the first quarter valued at approximately $1,281,000. Lodestar Private Asset Management LLC grew its stake in Wells Fargo & Company by 15.8% in the first quarter. Lodestar Private Asset Management LLC now owns 13,757 shares of the financial services provider's stock valued at $1,095,000 after acquiring an additional 1,874 shares during the period. First Dallas Securities Inc. increased its holdings in shares of Wells Fargo & Company by 1.0% during the first quarter. First Dallas Securities Inc. now owns 19,989 shares of the financial services provider's stock valued at $1,591,000 after acquiring an additional 203 shares in the last quarter. Finally, New York State Teachers Retirement System increased its holdings in shares of Wells Fargo & Company by 0.9% during the first quarter. New York State Teachers Retirement System now owns 2,502,147 shares of the financial services provider's stock valued at $199,196,000 after acquiring an additional 21,811 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $85.49 on Friday. The company has a market cap of $261.61 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 0.98 and a beta of 0.92. Wells Fargo & Company has a 52 week low of $72.78 and a 52 week high of $97.76. The business has a 50 day moving average price of $80.05 and a 200-day moving average price of $84.23. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results 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 company had revenue of $11.62 billion for the quarter, compared to analysts' expectations of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.Wells Fargo & Company's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.39 earnings per share. Equities analysts anticipate that Wells Fargo & Company will post 6.98 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were paid a dividend of $0.45 per share. The ex-dividend date was Friday, May 8th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company's dividend payout ratio (DPR) is 27.78%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WFC. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Wells Fargo & Company in a research report on Monday, April 20th. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the company an "equal weight" rating in a research report on Monday. The Goldman Sachs Group decreased their price target on shares of Wells Fargo & Company from $109.00 to $93.00 and set a "buy" rating for the company in a research note on Monday, March 23rd. Barclays lowered their price objective on shares of Wells Fargo & Company from $113.00 to $108.00 and set an "overweight" rating on the stock in a report on Wednesday, April 15th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Wells Fargo & Company from $91.00 to $86.50 and set a "neutral" rating on the stock in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $98.34.

Key Headlines Impacting Wells Fargo & Company

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Analysts recently lifted price targets on Wells Fargo, including a Morgan Stanley target of $102, reinforcing a constructive view on the bank ahead of earnings. Wells Fargo Stock (WFC) Opinions on Analyst Price Target Increases
• Positive Sentiment: Wells Fargo is benefiting from expectations that Q2 results could show improved earnings, with analysts forecasting EPS around $1.71 and revenue near $21.81 billion. Top Wall Street Forecasters Revamp Wells Fargo Expectations Ahead Of Q2 Earnings
• Positive Sentiment: Investor sentiment was also helped by recent news that the stock rose after dividend hike news, pointing to continued capital return strength. Top Wall Street Forecasters Revamp Wells Fargo Expectations Ahead Of Q2 Earnings
• Positive Sentiment: Senator Mitch McConnell disclosed a new purchase of WFC shares, adding a modest political-sentiment boost. Congress Trade: Senator Mitch McConnell Just Disclosed New Stock Trades
• Neutral Sentiment: Recent commentary continues to compare Wells Fargo with other major banks as investors look for value and income opportunities, but this is more of a sector discussion than a company-specific catalyst. More Bang for Your Buck: Is Bank of America or Wells Fargo the Better Value-and-Income Buy?
• Neutral Sentiment: Some articles noted that Wells Fargo could benefit from potential tariff refunds and other non-operating gains, but the impact is still uncertain and not yet reflected in results. Wells Fargo (WFC) Could Get An Earnings Lift From Supreme Court Tariff Refunds
• Negative Sentiment: Longer-term concerns remain around Wells Fargo’s lagging return on equity and pressure on net interest margins, which could cap enthusiasm if earnings disappoint. Wells Fargo Stock Has Lagged Other Banks. Earnings Can Change That.

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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