Insigneo Advisory Services LLC Boosts Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Insigneo Advisory Services LLC boosted its position in Wells Fargo & Company (NYSE:WFC) by 7.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,574 shares of the financial services provider’s stock after buying an additional 1,177 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Wells Fargo & Company were worth $1,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Shakespeare Wealth Management LLC grew its stake in shares of Wells Fargo & Company by 0.9% during the 4th quarter. Shakespeare Wealth Management LLC now owns 13,839 shares of the financial services provider’s stock worth $972,000 after acquiring an additional 130 shares during the period. MONECO Advisors LLC lifted its holdings in Wells Fargo & Company by 1.9% during the fourth quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 134 shares during the last quarter. Safeguard Investment Advisory Group LLC boosted its position in Wells Fargo & Company by 2.4% during the fourth quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider’s stock worth $410,000 after purchasing an additional 137 shares during the period. Crown Wealth Group LLC increased its stake in shares of Wells Fargo & Company by 2.2% in the fourth quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock worth $467,000 after purchasing an additional 140 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC increased its stake in shares of Wells Fargo & Company by 0.6% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 22,501 shares of the financial services provider’s stock worth $1,580,000 after purchasing an additional 144 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on WFC shares. JPMorgan Chase & Co. dropped their price target on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Piper Sandler restated an “overweight” rating and set a $85.00 target price (up previously from $75.00) on shares of Wells Fargo & Company in a research report on Wednesday, June 4th. Barclays cut their price target on Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Bank of America boosted their price objective on Wells Fargo & Company from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Finally, Citigroup cut their target price on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and an average price target of $77.68.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $72.51 on Wednesday. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.06. The company has a market cap of $235.97 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 1.23 and a beta of 1.16. The stock has a 50-day moving average price of $71.77 and a 200-day moving average price of $72.85.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a net margin of 16.19% and a return on equity of 12.15%. The business had revenue of $20.15 billion for the quarter, compared to the consensus estimate of $20.82 billion. During the same period last year, the firm posted $1.20 earnings per share. Wells Fargo & Company’s quarterly revenue was down 3.4% on a year-over-year basis. As a group, equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 28.73%.

Wells Fargo & Company declared that its Board of Directors has initiated a stock repurchase program on Tuesday, April 29th that authorizes the company to repurchase $40.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 17.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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.