Prospera Financial Services Inc Boosts Holdings in Wells Fargo & Company $WFC

Prospera Financial Services Inc raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 24.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,919 shares of the financial services provider’s stock after buying an additional 41,075 shares during the quarter. Prospera Financial Services Inc’s holdings in Wells Fargo & Company were worth $16,660,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WFC. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Wells Fargo & Company by 2,735,254.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after acquiring an additional 949,735,001 shares during the period. Massachusetts Financial Services Co. MA lifted its position 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 valued at $771,092,000 after acquiring an additional 7,894,919 shares during the last quarter. Strs Ohio purchased a new position in Wells Fargo & Company during the 1st quarter worth $109,643,000. Canada Pension Plan Investment Board boosted its stake in Wells Fargo & Company by 34.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock worth $381,016,000 after purchasing an additional 1,365,629 shares in the last quarter. Finally, Phoenix Financial Ltd. lifted its position in Wells Fargo & Company by 437.6% during the 2nd quarter. Phoenix Financial Ltd. now owns 1,312,103 shares of the financial services provider’s stock worth $105,120,000 after acquiring an additional 1,068,040 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 0.0%

Shares of WFC opened at $86.05 on Friday. The firm has a market cap of $270.11 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $88.50. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. The company’s fifty day moving average is $83.25 and its two-hundred day moving average is $79.27.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, topping the consensus estimate of $1.55 by $0.11. The business had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.42 earnings per share. Analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be given a $0.45 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company’s payout ratio is 29.61%.

Analyst Ratings Changes

A number of analysts have recently commented on WFC shares. Morgan Stanley boosted their price objective on Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. TD Cowen raised their target price on Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Phillip Securities downgraded Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. UBS Group decreased their target price on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Finally, Truist Financial raised their target price on Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus 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.