Wells Fargo & Company $WFC Stock Holdings Lessened by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lowered its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 2.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 171,700 shares of the financial services provider's stock after selling 5,200 shares during the period. Louisiana State Employees Retirement System's holdings in Wells Fargo & Company were worth $13,757,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Accretive Wealth Partners LLC acquired a new position in Wells Fargo & Company in the first quarter worth approximately $399,000. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in Wells Fargo & Company by 10.4% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider's stock worth $54,471,000 after buying an additional 71,740 shares during the last quarter. Secured Retirement Advisors LLC acquired a new position in Wells Fargo & Company in the first quarter worth approximately $408,000. RKL Wealth Management LLC increased its holdings in Wells Fargo & Company by 166.4% in the first quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider's stock worth $588,000 after buying an additional 5,113 shares during the last quarter. Finally, Three Bridge Wealth Advisors LLC acquired a new position in Wells Fargo & Company in the second quarter worth approximately $364,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Stock Up 0.5%

Shares of WFC stock opened at $81.09 on Wednesday. Wells Fargo & Company has a 12 month low of $57.07 and a 12 month high of $86.65. The firm has a market cap of $259.75 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.24 and a beta of 1.25. The stock has a 50 day moving average of $80.69 and a 200-day moving average of $76.42. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06.

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 EPS 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 company had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same period in the previous year, the company earned $1.33 earnings per share. The company's quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis 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 was Friday, August 8th. Wells Fargo & Company's dividend payout ratio is presently 30.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Truist Financial increased their price objective on Wells Fargo & Company from $86.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. UBS Group decreased their target price on Wells Fargo & Company from $95.00 to $93.00 and set a "buy" rating for the company in a research report on Tuesday. Raymond James Financial cut Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research report on Monday, July 7th. Wall Street Zen raised Wells Fargo & Company from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Citigroup upped their target price on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 23rd. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of "Hold" and an average target price of $85.41.

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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