Ameriflex Group Inc. Sells 422 Shares of Wells Fargo & Company $WFC

Ameriflex Group Inc. trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 7.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,134 shares of the financial services provider’s stock after selling 422 shares during the period. Ameriflex Group Inc.’s holdings in Wells Fargo & Company were worth $410,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. QRG Capital Management Inc. raised its stake in shares of Wells Fargo & Company by 0.5% during the 2nd quarter. QRG Capital Management Inc. now owns 819,209 shares of the financial services provider’s stock worth $65,635,000 after purchasing an additional 3,825 shares during the period. Segment Wealth Management LLC raised its stake in shares of Wells Fargo & Company by 1.8% during the 2nd quarter. Segment Wealth Management LLC now owns 13,392 shares of the financial services provider’s stock worth $1,073,000 after purchasing an additional 235 shares during the period. Montz Harcus Wealth Management LLC bought a new stake in shares of Wells Fargo & Company during the 2nd quarter worth $222,000. Consilium Wealth Advisory LLC raised its stake in shares of Wells Fargo & Company by 0.3% during the 2nd quarter. Consilium Wealth Advisory LLC now owns 176,928 shares of the financial services provider’s stock worth $14,176,000 after purchasing an additional 503 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Wells Fargo & Company by 2.8% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 29,610 shares of the financial services provider’s stock worth $2,372,000 after purchasing an additional 799 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday. Truist Financial boosted their price objective on Wells Fargo & Company from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Evercore ISI boosted their price objective on Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Citigroup boosted their price objective on Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average price target of $83.74.

Wells Fargo & Company Trading Up 0.2%

Shares of WFC opened at $80.63 on Friday. The business’s 50-day moving average price is $80.77 and its 200-day moving average price is $76.28. Wells Fargo & Company has a twelve month low of $55.98 and a twelve month high of $86.65. The stock has a market cap of $258.28 billion, a PE ratio of 13.81, a P/E/G ratio of 1.24 and a beta of 1.25. 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) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $20.82 billion for the quarter, compared to analysts’ expectations of $20.83 billion. During the same period in the prior year, the business posted $1.33 earnings per share. The company’s revenue was up .6% on a year-over-year basis. On average, equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a dividend of $0.45 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 30.82%.

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.