Financial Partners Group LLC Decreases Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Financial Partners Group LLC decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,932 shares of the financial services provider’s stock after selling 487 shares during the quarter. Financial Partners Group LLC’s holdings in Wells Fargo & Company were worth $1,039,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in Wells Fargo & Company during the fourth quarter valued at $2,623,044,000. LSV Asset Management increased its position in Wells Fargo & Company by 40.4% during the fourth quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider’s stock valued at $458,162,000 after acquiring an additional 2,677,050 shares during the last quarter. Morningstar Investment Services LLC increased its position in Wells Fargo & Company by 103.7% during the fourth quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock valued at $189,684,000 after acquiring an additional 1,951,477 shares during the last quarter. Nordea Investment Management AB increased its position in Wells Fargo & Company by 42.7% during the fourth quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock valued at $285,668,000 after acquiring an additional 1,729,132 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in shares of Wells Fargo & Company by 91.5% in the fourth quarter. 1832 Asset Management L.P. now owns 3,503,169 shares of the financial services provider’s stock worth $172,426,000 after purchasing an additional 1,673,917 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on WFC. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. HSBC upped their price target on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Compass Point restated a “neutral” rating and issued a $64.00 price target on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Finally, Evercore ISI upped their price target on shares of Wells Fargo & Company from $69.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, June 25th. Fourteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $59.15.

Wells Fargo & Company Stock Up 3.4 %

Shares of WFC stock traded up $1.97 during mid-day trading on Friday, hitting $59.39. 31,074,465 shares of the stock traded hands, compared to its average volume of 18,610,088. The stock has a market cap of $207.05 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.46 and a beta of 1.17. The stock’s fifty day moving average is $59.55 and its two-hundred day moving average is $55.15. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.23 earnings per share. Equities analysts predict that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s payout ratio is currently 29.23%.

About Wells Fargo & Company

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.