Private Wealth Group LLC Acquires Shares of 25,612 Wells Fargo & Company (NYSE:WFC)

Private Wealth Group LLC bought a new position in Wells Fargo & Company (NYSE:WFC – Get Rating) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 25,612 shares of the financial services provider’s stock, valued at approximately $1,241,000. Wells Fargo & Company comprises 0.9% of Private Wealth Group LLC’s holdings, making the stock its 23rd largest holding.

Several other hedge funds have also added to or reduced their stakes in WFC. Level Financial Advisors Inc. bought a new position in Wells Fargo & Company during the fourth quarter valued at about $25,000. Gibson Wealth Advisors LLC purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $25,000. KRS Capital Management LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $28,000. Addison Advisors LLC raised its holdings in shares of Wells Fargo & Company by 141.0% in the 4th quarter. Addison Advisors LLC now owns 629 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 368 shares during the period. Finally, US Asset Management LLC purchased a new position in Wells Fargo & Company in the first quarter valued at approximately $32,000. 74.01% of the stock is owned by institutional investors.

Wells Fargo & Company stock opened at $38.60 on Thursday. The stock has a market cap of $146.31 billion, a price-to-earnings ratio of 8.02, a PEG ratio of 0.94 and a beta of 1.13. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.95. The business has a 50-day simple moving average of $43.55 and a 200 day simple moving average of $49.10. Wells Fargo & Company has a 52 week low of $36.54 and a 52 week high of $60.30.

Wells Fargo & Company (NYSE:WFC – Get Rating) last posted its quarterly earnings data on Thursday, April 14th. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.07. Wells Fargo & Company had a net margin of 25.35% and a return on equity of 12.20%. The company had revenue of $17.59 billion for the quarter, compared to analysts’ expectations of $17.82 billion. During the same period in the prior year, the business earned $1.05 earnings per share. Wells Fargo & Company’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, research analysts anticipate that Wells Fargo & Company will post 4.07 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Friday, May 6th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.59%. The ex-dividend date was Thursday, May 5th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 20.79%.

In related news, EVP Kleber Santos sold 22,700 shares of the firm’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $44.44, for a total transaction of $1,008,788.00. Following the transaction, the executive vice president now directly owns 21,478 shares of the company’s stock, valued at approximately $954,482.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.05% of the stock is currently owned by corporate insiders.

Several analysts have issued reports on the company. Raymond James lowered their target price on Wells Fargo & Company from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, April 18th. StockNews.com began coverage on shares of Wells Fargo & Company in a report on Thursday, March 31st. They set a “hold” rating on the stock. Piper Sandler set a $48.00 target price on shares of Wells Fargo & Company in a research note on Monday. Morgan Stanley dropped their price target on shares of Wells Fargo & Company from $72.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, March 28th. Finally, Barclays lifted their price objective on shares of Wells Fargo & Company from $62.00 to $64.00 in a research note on Monday, April 18th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $57.62.

Wells Fargo & Company Profile (Get Rating)

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

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