Signal Advisors Wealth LLC Grows Holdings in Wells Fargo & Company $WFC

Signal Advisors Wealth LLC increased its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 131.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,564 shares of the financial services provider's stock after acquiring an additional 7,693 shares during the quarter. Signal Advisors Wealth LLC's holdings in Wells Fargo & Company were worth $1,087,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Summit Wealth & Retirement Planning Inc. increased its holdings in Wells Fargo & Company by 4.3% in the 1st quarter. Summit Wealth & Retirement Planning Inc. now owns 3,362 shares of the financial services provider's stock worth $241,000 after acquiring an additional 139 shares in the last quarter. Nwam LLC increased its holdings in Wells Fargo & Company by 1.6% in the 1st quarter. Nwam LLC now owns 8,806 shares of the financial services provider's stock worth $632,000 after acquiring an additional 142 shares in the last quarter. PGIM Custom Harvest LLC increased its holdings in Wells Fargo & Company by 3.5% in the 1st quarter. PGIM Custom Harvest LLC now owns 4,225 shares of the financial services provider's stock worth $303,000 after acquiring an additional 142 shares in the last quarter. Tradition Wealth Management LLC boosted its stake in Wells Fargo & Company by 0.5% in the 1st quarter. Tradition Wealth Management LLC now owns 30,420 shares of the financial services provider's stock worth $2,184,000 after purchasing an additional 143 shares during the period. Finally, Retirement Planning Co of New England Inc. boosted its stake in Wells Fargo & Company by 0.8% in the 1st quarter. Retirement Planning Co of New England Inc. now owns 18,434 shares of the financial services provider's stock worth $1,323,000 after purchasing an additional 144 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WFC. Morgan Stanley upped their price target on Wells Fargo & Company from $77.00 to $87.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Bank of America upped their price target on Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Citigroup restated a "neutral" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Phillip Securities downgraded Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Finally, Raymond James Financial downgraded Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research note on Monday, July 7th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $82.56.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $83.51 on Friday. The company has a market capitalization of $267.51 billion, a PE ratio of 14.30, a P/E/G ratio of 1.28 and a beta of 1.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The company has a 50-day simple moving average of $80.40 and a two-hundred day simple moving average of $75.30. Wells Fargo & Company has a one year low of $53.31 and a one year high of $84.83.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The business had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same quarter in the previous year, the firm earned $1.33 earnings per share. The company's revenue was up .6% on a year-over-year basis. Research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 8th. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. Wells Fargo & Company's dividend 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.