Securian Asset Management Inc. Has $13.63 Million Position in Wells Fargo & Company $WFC

Securian Asset Management Inc. reduced its holdings in Wells Fargo & Company (NYSE:WFC) by 2.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 170,138 shares of the financial services provider’s stock after selling 4,080 shares during the quarter. Securian Asset Management Inc.’s holdings in Wells Fargo & Company were worth $13,631,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at about $27,000. CBIZ Investment Advisory Services LLC grew its position in shares of Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 322 shares during the last quarter. Accent Capital Management LLC acquired a new stake in shares of Wells Fargo & Company in the first quarter valued at about $29,000. Motco grew its position in shares of Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 326 shares during the last quarter. Finally, Nova Wealth Management Inc. grew its position in shares of Wells Fargo & Company by 112.9% in the second quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 227 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WFC. TD Cowen increased their target price on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Keefe, Bruyette & Woods increased their target price on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, October 15th. Dbs Bank upgraded shares of Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research note on Thursday, July 17th. The Goldman Sachs Group reduced their target price on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Finally, Phillip Securities cut shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Ten investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Stock Up 3.2%

Shares of WFC opened at $85.97 on Tuesday. The stock has a market cap of $275.39 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 1.15 and a beta of 1.25. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $87.47. The company has a 50-day moving average price of $81.38 and a two-hundred day moving average price of $77.19.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were paid a dividend of $0.45 per share. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio is 29.61%.

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.