DMC Group LLC Has $1.01 Million Stock Holdings in Wells Fargo & Company $WFC

DMC Group LLC lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 19.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 12,583 shares of the financial services provider’s stock after selling 3,097 shares during the period. DMC Group LLC’s holdings in Wells Fargo & Company were worth $1,008,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Wells Fargo & Company by 2,735,254.3% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after purchasing an additional 949,735,001 shares during the period. Dimensional Fund Advisors LP grew its stake in Wells Fargo & Company by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider’s stock worth $1,471,259,000 after purchasing an additional 128,207 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Wells Fargo & Company by 277.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock worth $771,092,000 after purchasing an additional 7,894,919 shares during the period. Boston Partners grew its stake in Wells Fargo & Company by 6.2% during the first quarter. Boston Partners now owns 8,953,009 shares of the financial services provider’s stock worth $640,616,000 after purchasing an additional 523,107 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Wells Fargo & Company by 10.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,009,440 shares of the financial services provider’s stock worth $431,418,000 after purchasing an additional 544,473 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wells Fargo & Company in a research note on Saturday, September 27th. Piper Sandler reiterated an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Dbs Bank upgraded Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. Evercore ISI increased their price target on Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Finally, Truist Financial increased their price target on Wells Fargo & Company from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price of $85.41.

Wells Fargo & Company Stock Up 0.5%

Shares of NYSE:WFC opened at $81.09 on Wednesday. The stock has a market cap of $259.75 billion, a price-to-earnings ratio of 13.88, a PEG 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 has a 12-month low of $57.07 and a 12-month high of $86.65. The business’s 50 day moving average is $80.69 and its 200 day moving average is $76.42.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.13. The company had revenue of $20.82 billion for the quarter, compared to analysts’ expectations of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.Wells Fargo & Company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.33 earnings per share. On average, sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change 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%. Wells Fargo & Company’s payout ratio is presently 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.