AssuredPartners Investment Advisors LLC Sells 837 Shares of Wells Fargo & Company $WFC

AssuredPartners Investment Advisors LLC lessened its stake in Wells Fargo & Company (NYSE:WFC) by 14.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,867 shares of the financial services provider’s stock after selling 837 shares during the quarter. AssuredPartners Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $390,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WFC. Accretive Wealth Partners LLC bought a new stake in shares of Wells Fargo & Company in the first quarter worth about $399,000. Banco Bilbao Vizcaya Argentaria S.A. boosted its position in Wells Fargo & Company by 10.4% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock valued at $54,471,000 after purchasing an additional 71,740 shares during the last quarter. Secured Retirement Advisors LLC acquired a new position in Wells Fargo & Company during the first quarter valued at approximately $408,000. RKL Wealth Management LLC boosted its position in Wells Fargo & Company by 166.4% during the first quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider’s stock valued at $588,000 after purchasing an additional 5,113 shares during the last quarter. Finally, Three Bridge Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at approximately $364,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.9%

Shares of NYSE:WFC opened at $83.25 on Friday. The company has a market capitalization of $266.70 billion, a price-to-earnings ratio of 13.69, a P/E/G ratio of 1.16 and a beta of 1.25. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.83. The business’s 50-day moving average is $81.21 and its 200-day moving average is $76.90. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $87.47.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same period in the previous year, the company posted $1.33 EPS. The firm’s revenue was up .6% compared to the same quarter last year. Equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio is presently 29.61%.

Analysts Set New Price Targets

WFC has been the subject of a number of recent analyst reports. Weiss Ratings raised Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, October 8th. Morgan Stanley raised their price objective on Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. UBS Group decreased their price target on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Finally, Evercore ISI increased their price objective on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus price target of $89.57.

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.