Elo Mutual Pension Insurance Co Raises Stake in Wells Fargo & Company $WFC

Elo Mutual Pension Insurance Co raised its position in Wells Fargo & Company (NYSE:WFC) by 19.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 131,286 shares of the financial services provider’s stock after purchasing an additional 21,710 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Wells Fargo & Company were worth $10,519,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its holdings in Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after buying an additional 25,436 shares during the last quarter. Carrera Capital Advisors boosted its position in shares of Wells Fargo & Company by 8.0% during the 1st quarter. Carrera Capital Advisors now owns 10,111 shares of the financial services provider’s stock worth $726,000 after acquiring an additional 751 shares in the last quarter. Brio Consultants LLC increased its holdings in shares of Wells Fargo & Company by 21.0% in the 1st quarter. Brio Consultants LLC now owns 4,561 shares of the financial services provider’s stock valued at $327,000 after acquiring an additional 792 shares during the last quarter. Prosperity Consulting Group LLC raised its position in shares of Wells Fargo & Company by 54.3% during the 1st quarter. Prosperity Consulting Group LLC now owns 9,832 shares of the financial services provider’s stock worth $706,000 after acquiring an additional 3,460 shares in the last quarter. Finally, Lazard Freres Gestion S.A.S. lifted its stake in Wells Fargo & Company by 0.4% during the first quarter. Lazard Freres Gestion S.A.S. now owns 695,797 shares of the financial services provider’s stock worth $49,951,000 after purchasing an additional 2,892 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on WFC. Evercore ISI increased their price target 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. 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 report on Wednesday, October 15th. UBS Group cut their price target on shares of 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. Morgan Stanley upped their price objective on shares of 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. Finally, Cowen reaffirmed a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Trading Up 1.8%

Shares of WFC stock opened at $84.62 on Tuesday. The company has a market capitalization of $265.63 billion, a P/E ratio of 13.92, a price-to-earnings-growth 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 business’s 50 day moving average is $84.06 and its two-hundred day moving average is $80.42. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $88.64.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, topping the consensus estimate of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. During the same quarter in the prior year, the business earned $1.42 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

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