Transcendent Capital Group LLC Invests $32,000 in Wells Fargo & Company (NYSE:WFC)

Transcendent Capital Group LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 655 shares of the financial services provider’s stock, valued at approximately $32,000.

Several other large investors have also added to or reduced their stakes in WFC. Norges Bank acquired a new position in shares of Wells Fargo & Company during the 4th quarter valued at $2,623,044,000. Northern Trust Corp boosted its holdings in Wells Fargo & Company by 0.3% in the third quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock worth $1,560,755,000 after acquiring an additional 129,300 shares in the last quarter. Capital World Investors grew its stake in Wells Fargo & Company by 1.0% in the fourth quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock valued at $1,295,459,000 after acquiring an additional 263,176 shares during the period. Sanders Capital LLC increased its holdings in shares of Wells Fargo & Company by 3.2% during the fourth quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock valued at $1,241,231,000 after acquiring an additional 781,772 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Wells Fargo & Company by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,237,905 shares of the financial services provider’s stock worth $1,143,770,000 after purchasing an additional 526,178 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

NYSE:WFC traded up $0.13 during trading hours on Friday, hitting $57.40. The stock had a trading volume of 15,375,353 shares, compared to its average volume of 14,025,280. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The company has a 50 day simple moving average of $59.38 and a two-hundred day simple moving average of $54.18. 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 firm has a market capitalization of $200.11 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 1.51 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company 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. Wells Fargo & Company’s revenue was up .6% on a year-over-year basis. Research analysts forecast that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were paid a $0.35 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.44%. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WFC. The Goldman Sachs Group boosted their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Jefferies Financial Group increased their price objective on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Compass Point reissued a “neutral” rating and issued a $64.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Finally, HSBC raised their price target on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Fourteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and an average target price of $58.99.

Wells Fargo & 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.