Wells Fargo & Company $WFC Shares Bought by Cohen Investment Advisors LLC

Cohen Investment Advisors LLC grew its stake in Wells Fargo & Company (NYSE:WFC) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,576 shares of the financial services provider’s stock after acquiring an additional 1,442 shares during the quarter. Wells Fargo & Company comprises approximately 2.1% of Cohen Investment Advisors LLC’s portfolio, making the stock its 17th biggest holding. Cohen Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $4,052,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Management Partners LLC lifted its holdings in Wells Fargo & Company by 3.5% during the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock worth $313,000 after buying an additional 128 shares during the last quarter. Verum Partners LLC lifted its holdings in Wells Fargo & Company by 1.8% during the 2nd quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock worth $582,000 after buying an additional 128 shares during the last quarter. Motive Wealth Advisors lifted its holdings in Wells Fargo & Company by 3.7% during the 2nd quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock worth $293,000 after buying an additional 129 shares during the last quarter. Lynch & Associates IN lifted its holdings in Wells Fargo & Company by 2.0% during the 2nd quarter. Lynch & Associates IN now owns 6,729 shares of the financial services provider’s stock worth $539,000 after buying an additional 135 shares during the last quarter. Finally, Financial Management Professionals Inc. lifted its holdings in Wells Fargo & Company by 19.3% during the 2nd quarter. Financial Management Professionals Inc. now owns 854 shares of the financial services provider’s stock worth $68,000 after buying an additional 138 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Evercore ISI raised 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. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Citigroup raised their price target on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Piper Sandler reissued an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Finally, UBS Group cut their price target on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.41.

Wells Fargo & Company Stock Down 1.7%

WFC opened at $79.74 on Thursday. Wells Fargo & Company has a 12 month low of $57.07 and a 12 month high of $86.65. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market cap of $255.44 billion, a P/E ratio of 13.65, a P/E/G ratio of 1.31 and a beta of 1.25. The stock’s 50 day moving average price is $80.65 and its 200 day moving average price is $76.44.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS 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 last year, the firm earned $1.33 EPS. The firm’s revenue was up .6% compared to the same quarter last year. As a group, research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company 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. The ex-dividend date was Friday, August 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. Wells Fargo & Company’s payout ratio is 30.82%.

About Wells Fargo & Company

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.