Wells Fargo & Company $WFC Shares Bought by KG&L Capital Management LLC

Key Points

• KG&L Capital Management LLC increased its stake in Wells Fargo & Company by 50.9%, acquiring an additional 5,205 shares, making their total holdings worth approximately $1.236 million.
• Wells Fargo recently declared a $0.45 quarterly dividend, an increase from the previous $0.40, which results in an annualized yield of 2.1%.
• The stock's market capitalization is currently $272.32 billion, with a PE ratio of 14.56, and it has seen a slight increase of 0.8% in recent trading sessions.

KG&L Capital Management LLC boosted its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 50.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,432 shares of the financial services provider's stock after acquiring an additional 5,205 shares during the quarter. KG&L Capital Management LLC's holdings in Wells Fargo & Company were worth $1,236,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Wells Fargo & Company by 2,735,254.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider's stock worth $76,095,550,000 after buying an additional 949,735,001 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Wells Fargo & Company by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider's stock worth $1,471,259,000 after buying an additional 128,207 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Wells Fargo & Company by 277.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider's stock worth $771,092,000 after buying an additional 7,894,919 shares in the last quarter. Boston Partners increased its position in Wells Fargo & Company by 6.2% during the first quarter. Boston Partners now owns 8,953,009 shares of the financial services provider's stock worth $640,616,000 after buying an additional 523,107 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Wells Fargo & Company by 10.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,009,440 shares of the financial services provider's stock valued at $431,418,000 after purchasing an additional 544,473 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 0.8%

NYSE:WFC opened at $85.01 on Friday. The firm has a market capitalization of $272.32 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.31 and a beta of 1.25. The stock has a 50 day moving average of $80.84 and a 200-day moving average of $75.91. Wells Fargo & Company has a 52 week low of $54.40 and a 52 week high of $86.65. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted 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 company had revenue of $20.82 billion during the quarter, compared to analyst estimates 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 revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.33 earnings per share. Analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, August 8th. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.40. Wells Fargo & Company's dividend payout ratio is 30.82%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WFC shares. Bank of America lifted their target price on Wells Fargo & Company from $83.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Cowen restated a "hold" rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Piper Sandler reiterated an "overweight" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Morgan Stanley boosted 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. Finally, Wall Street Zen cut Wells Fargo & Company from a "hold" rating to a "sell" rating in a research note on Friday. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $82.97.

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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