Envestnet Portfolio Solutions Inc. Has $8.39 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Envestnet Portfolio Solutions Inc. grew its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 170,410 shares of the financial services provider's stock after acquiring an additional 15,126 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Wells Fargo & Company were worth $8,388,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fortis Group Advisors LLC purchased a new position in Wells Fargo & Company during the third quarter worth about $25,000. Arlington Trust Co LLC purchased a new position in Wells Fargo & Company during the fourth quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. lifted its position in Wells Fargo & Company by 208.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider's stock worth $26,000 after buying an additional 356,620 shares during the period. Tennessee Valley Asset Management Partners purchased a new position in Wells Fargo & Company during the fourth quarter worth about $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in Wells Fargo & Company during the fourth quarter worth about $32,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 1.0 %

Shares of NYSE:WFC traded down $0.61 during midday trading on Monday, reaching $61.28. The company had a trading volume of 15,198,362 shares, compared to its average volume of 18,758,266. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The stock's fifty day moving average price is $58.24 and its 200-day moving average price is $51.09. The stock has a market capitalization of $213.64 billion, a P/E ratio of 12.85, a PEG ratio of 1.20 and a beta of 1.18. Wells Fargo & Company has a one year low of $37.46 and a one year high of $62.17.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The firm's revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts expect that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.28%. Wells Fargo & Company's payout ratio is 29.23%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Compass Point restated a "neutral" rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Jefferies Financial Group raised their price objective on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a "hold" rating in a report on Monday, April 8th. JPMorgan Chase & Co. raised their price objective on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a "neutral" rating in a report on Wednesday, May 1st. Evercore ISI raised their price objective on Wells Fargo & Company from $58.00 to $67.00 and gave the stock an "outperform" rating in a report on Thursday, March 28th. Finally, Argus raised their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a "buy" rating in a report on Monday, April 15th. Fourteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $58.99.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.