Leuthold Group LLC Acquires Shares of 95,501 Wells Fargo & Company (NYSE:WFC)

Leuthold Group LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 95,501 shares of the financial services provider’s stock, valued at approximately $5,672,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Core Wealth Advisors Inc. bought a new position in Wells Fargo & Company in the 4th quarter worth about $25,000. Transcendent Capital Group LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $32,000. Beaird Harris Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $34,000. Valued Wealth Advisors LLC raised its position 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 worth $37,000 after acquiring an additional 220 shares in the last quarter. Finally, J.Safra Asset Management Corp grew its position 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 worth $43,000 after buying an additional 648 shares during the period. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on WFC shares. BMO Capital Markets upped their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and lowered their price target for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Evercore ISI decreased their price objective on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, September 6th. Finally, The Goldman Sachs Group cut their target price on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Twelve investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.29.

Wells Fargo & Company Stock Performance

WFC opened at $54.26 on Thursday. The firm has a market capitalization of $189.17 billion, a PE ratio of 11.14, a PEG ratio of 1.27 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The firm’s 50-day moving average price is $56.28 and its 200 day moving average price is $57.89.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.25 earnings per share. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a 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 is presently 32.85%.

Wells Fargo & Company Company Profile

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.