Carson Advisory Inc. Raises Stake in Wells Fargo & Company (NYSE:WFC)

Carson Advisory Inc. lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 9.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,777 shares of the financial services provider’s stock after acquiring an additional 1,163 shares during the period. Carson Advisory Inc.’s holdings in Wells Fargo & Company were worth $818,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of WFC. Norges Bank purchased a new position in Wells Fargo & Company during the fourth quarter worth about $2,623,044,000. Capital World Investors raised its position in shares of 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 valued at $1,295,459,000 after buying an additional 263,176 shares during the period. Sanders Capital LLC lifted its holdings in 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 valued at $1,241,231,000 after acquiring an additional 781,772 shares during the last quarter. California State Teachers Retirement System grew its position in Wells Fargo & Company by 0.4% in the fourth quarter. California State Teachers Retirement System now owns 5,905,934 shares of the financial services provider’s stock worth $290,690,000 after acquiring an additional 25,896 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in Wells Fargo & Company by 67.1% during the first 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 last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 1.2 %

WFC opened at $53.95 on Wednesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market capitalization of $188.09 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 1.27 and a beta of 1.16. The business has a fifty day moving average price of $57.05 and a 200 day moving average price of $57.97. 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 announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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 for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. Sell-side analysts expect that Wells Fargo & Company will post 5.15 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.97%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 32.85%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Evercore ISI decreased their price target on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. 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 research note on Friday, August 16th. Keefe, Bruyette & Woods dropped their price target 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 upped their price objective on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, BMO Capital Markets lifted their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Twelve analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and an average price target of $60.29.

Wells Fargo & 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.