SGL Investment Advisors Inc. Purchases 4,921 Shares of Wells Fargo & Company $WFC

Key Points

• SGL Investment Advisors Inc. increased its stake in Wells Fargo & Company by 119.4%, now owning 9,044 shares valued at approximately $738,000.
• Recent analyst ratings indicate a consensus "Moderate Buy" for Wells Fargo, with a target price of $83.74.
• The company recently boosted its quarterly dividend from $0.40 to $0.45 per share, now yielding 2.2%.

SGL Investment Advisors Inc. raised its position in Wells Fargo & Company (NYSE:WFC) by 119.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,044 shares of the financial services provider's stock after purchasing an additional 4,921 shares during the quarter. SGL Investment Advisors Inc.'s holdings in Wells Fargo & Company were worth $738,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Management Partners LLC grew its stake in shares of Wells Fargo & Company by 3.5% during the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider's stock worth $313,000 after acquiring an additional 128 shares during the period. Verum Partners LLC raised its position in shares of Wells Fargo & Company by 1.8% in the second quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider's stock valued at $582,000 after purchasing an additional 128 shares during the period. Motive Wealth Advisors lifted its stake in shares of Wells Fargo & Company by 3.7% during the 2nd quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider's stock valued at $293,000 after buying an additional 129 shares in the last quarter. Lynch & Associates IN boosted its holdings in Wells Fargo & Company by 2.0% in the 2nd quarter. Lynch & Associates IN now owns 6,729 shares of the financial services provider's stock worth $539,000 after buying an additional 135 shares during the period. Finally, Financial Management Professionals Inc. raised its holdings in Wells Fargo & Company by 19.3% during the 2nd quarter. Financial Management Professionals Inc. now owns 854 shares of the financial services provider's stock valued at $68,000 after acquiring an additional 138 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on WFC. Dbs Bank upgraded Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Cowen reiterated a "hold" rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Raymond James Financial downgraded shares of Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 7th. Citigroup boosted their price objective on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, September 23rd. Finally, Evercore ISI upped their target price on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an "outperform" rating in a report on Tuesday, September 30th. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.74.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $80.63 on Tuesday. The firm has a market cap of $258.29 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.24 and a beta of 1.25. Wells Fargo & Company has a 12-month low of $56.80 and a 12-month high of $86.65. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The company's fifty day simple moving average is $80.72 and its two-hundred day simple moving average is $76.39.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The company's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.33 earnings per share. As a group, equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company's payout ratio is presently 30.82%.

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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