WINTON GROUP Ltd Invests $225,000 in Wells Fargo & Company (NYSE:WFC)

WINTON GROUP Ltd purchased a new position in Wells Fargo & Company (NYSE:WFC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,787 shares of the financial services provider’s stock, valued at approximately $225,000.

Other institutional investors have also recently made changes to their positions in the company. Core Wealth Advisors Inc. bought a new position in shares of Wells Fargo & Company in the 4th quarter worth $25,000. Transcendent Capital Group LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter worth $32,000. Beaird Harris Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $34,000. Valued Wealth Advisors LLC boosted its stake in shares of Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 220 shares in the last quarter. Finally, J.Safra Asset Management Corp boosted its stake in shares of Wells Fargo & Company by 704.3% in the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 648 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.5 %

NYSE:WFC opened at $54.26 on Thursday. The company has a 50-day moving average price of $56.28 and a 200-day moving average price of $57.89. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The stock has a market cap of $189.17 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 1.27 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $20.29 billion. During the same period last year, the company posted $1.25 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. Equities analysts predict that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.95%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 32.85%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WFC. The Goldman Sachs Group cut their price objective on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods cut their price objective on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Evercore ISI cut their price objective on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. Twelve research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and a consensus target price of $60.29.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.