Police & Firemen s Retirement System of New Jersey Buys 15,824 Shares of Wells Fargo & Company $WFC

Police & Firemen s Retirement System of New Jersey raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 3.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 494,861 shares of the financial services provider’s stock after purchasing an additional 15,824 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Wells Fargo & Company were worth $39,648,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in WFC. Access Investment Management LLC acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter worth approximately $25,000. CBIZ Investment Advisory Services LLC raised its stake 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 in the last quarter. McElhenny Sheffield Capital Management LLC bought a new position in Wells Fargo & Company in the second quarter worth $27,000. Motco boosted its stake in Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after buying an additional 326 shares in the last quarter. Finally, Accent Capital Management LLC bought a new stake in Wells Fargo & Company in the 1st quarter valued at $29,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on WFC shares. Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. Morgan Stanley upped their price objective on Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” 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 research report on Thursday, July 17th. The Goldman Sachs Group decreased their price target on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Finally, Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Eleven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Trading Up 0.0%

WFC opened at $86.21 on Thursday. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $88.64. The stock has a market capitalization of $270.60 billion, a PE ratio of 14.18, a PEG ratio of 1.18 and a beta of 1.22. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The firm has a 50-day moving average price of $83.53 and a two-hundred day moving average price of $79.72.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. The company had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. Wells Fargo & Company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.42 earnings per share. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed 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. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.61%.

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.