AE Wealth Management LLC Grows Stock Holdings in Wells Fargo & Company (NYSE:WFC)

AE Wealth Management LLC grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 16.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,970 shares of the financial services provider’s stock after acquiring an additional 13,241 shares during the period. AE Wealth Management LLC’s holdings in Wells Fargo & Company were worth $5,581,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WFC. Capital World Investors lifted its holdings in Wells Fargo & Company by 1.0% during the 4th quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock worth $1,295,459,000 after purchasing an additional 263,176 shares in the last quarter. Sanders Capital LLC lifted its holdings in shares of Wells Fargo & Company by 3.2% in the fourth quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock worth $1,241,231,000 after buying an additional 781,772 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Wells Fargo & Company by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock valued at $1,178,591,000 after acquiring an additional 831,975 shares during the period. California State Teachers Retirement System grew its stake in Wells Fargo & Company by 0.4% during the fourth quarter. California State Teachers Retirement System now owns 5,905,934 shares of the financial services provider’s stock valued at $290,690,000 after acquiring an additional 25,896 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in Wells Fargo & Company by 67.1% during the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock worth $339,226,000 after acquiring an additional 2,349,595 shares during the period. 75.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WFC. BMO Capital Markets boosted their price target on shares of 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 reduced their target price for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Keefe, Bruyette & Woods lowered their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. Evercore ISI cut their price objective on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, September 6th. Finally, The Goldman Sachs Group decreased their price objective on shares of 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 given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Wells Fargo & Company has an average rating of “Hold” and an average target price of $60.29.

Wells Fargo & Company Stock Up 0.9 %

WFC opened at $56.29 on Friday. 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 business’s 50-day moving average price is $56.19 and its 200-day moving average price is $57.89. The company has a market cap of $196.24 billion, a P/E ratio of 11.56, a P/E/G ratio of 1.27 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $20.69 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 EPS. On average, equities analysts expect that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were issued a dividend of $0.40 per share. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio is currently 32.85%.

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.