Wells Fargo & Company $WFC Shares Purchased by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. increased its stake in Wells Fargo by 85.7% in Q1, owning a total of 1,427,106 shares worth approximately $102.45 million.
• Wells Fargo's recent earnings report showed an EPS of $1.54, beating analysts' estimates, with a net margin of 16.82%.
• The company announced a dividend increase to $0.45 per share, marking a rise from its previous quarterly dividend of $0.40.

Alyeska Investment Group L.P. grew its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 85.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,427,106 shares of the financial services provider's stock after acquiring an additional 658,654 shares during the period. Alyeska Investment Group L.P.'s holdings in Wells Fargo & Company were worth $102,452,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Aprio Wealth Management LLC grew its stake in shares of Wells Fargo & Company by 20.9% in the first quarter. Aprio Wealth Management LLC now owns 5,728 shares of the financial services provider's stock worth $411,000 after acquiring an additional 990 shares in the last quarter. Promethium Advisors LLC grew its stake in shares of Wells Fargo & Company by 62.9% in the first quarter. Promethium Advisors LLC now owns 13,689 shares of the financial services provider's stock worth $983,000 after acquiring an additional 5,285 shares in the last quarter. Dark Forest Capital Management LP grew its stake in shares of Wells Fargo & Company by 1,503.6% in the first quarter. Dark Forest Capital Management LP now owns 56,911 shares of the financial services provider's stock worth $4,086,000 after acquiring an additional 53,362 shares in the last quarter. EP Wealth Advisors LLC grew its stake in shares of Wells Fargo & Company by 39.6% in the first quarter. EP Wealth Advisors LLC now owns 240,236 shares of the financial services provider's stock worth $17,247,000 after acquiring an additional 68,186 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC grew its stake in shares of Wells Fargo & Company by 3.7% in the first quarter. Focus Partners Advisor Solutions LLC now owns 50,862 shares of the financial services provider's stock worth $3,651,000 after acquiring an additional 1,812 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $81.69 on Wednesday. The company has a 50-day simple moving average of $80.48 and a 200-day simple moving average of $75.02. Wells Fargo & Company has a one year low of $50.22 and a one year high of $84.83. 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 stock has a market capitalization of $261.69 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 1.28 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The business had revenue of $20.82 billion during the quarter, compared to analysts' expectations of $20.83 billion. During the same period in the prior year, the company earned $1.33 earnings per share. The business's revenue was up .6% compared to the same quarter last year. On average, analysts predict 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 issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. Wells Fargo & Company's dividend payout ratio is currently 30.82%.

Wall Street Analyst Weigh In

Several research firms have commented on WFC. Cowen restated a "hold" rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. The Goldman Sachs Group decreased their price objective on shares of Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Wall Street Zen raised shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, TD Cowen assumed coverage on shares of Wells Fargo & Company in a research report on Thursday, May 15th. They set a "hold" rating and a $83.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $82.56.

Wells Fargo & 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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