LJI Wealth Management LLC Sells 694 Shares of Wells Fargo & Company (NYSE:WFC)

LJI Wealth Management LLC lessened its stake in Wells Fargo & Company (NYSE:WFC) by 2.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,465 shares of the financial services provider’s stock after selling 694 shares during the period. LJI Wealth Management LLC’s holdings in Wells Fargo & Company were worth $1,453,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in WFC. 9258 Wealth Management LLC raised its stake in shares of Wells Fargo & Company by 4.1% in the 4th quarter. 9258 Wealth Management LLC now owns 12,972 shares of the financial services provider’s stock valued at $638,000 after buying an additional 516 shares in the last quarter. Gryphon Financial Partners LLC lifted its stake in Wells Fargo & Company by 93.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 26,467 shares of the financial services provider’s stock worth $1,246,000 after purchasing an additional 12,778 shares during the period. Trexquant Investment LP acquired a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $6,876,000. CreativeOne Wealth LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $232,000. Finally, Assetmark Inc. raised its holdings in shares of Wells Fargo & Company by 7.2% in the 4th quarter. Assetmark Inc. now owns 336,533 shares of the financial services provider’s stock worth $16,564,000 after buying an additional 22,492 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $54.26 on Thursday. The business’s 50-day simple moving average is $56.28 and its 200 day simple moving average is $57.89. The company has a quick ratio of 0.85, a current ratio of 0.86 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 has a 12-month low of $38.38 and a 12-month high of $62.55.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating 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 company had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. During the same quarter last year, the firm earned $1.25 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. As a group, research analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is currently 32.85%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, September 3rd. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and lowered their target price for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Keefe, Bruyette & Woods dropped their target price on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, July 15th. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, The Goldman Sachs Group dropped 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 report on Wednesday, September 11th. Twelve investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.