CFO4Life Group LLC Trims Stock Position in Wells Fargo & Company $WFC

CFO4Life Group LLC trimmed its stake in Wells Fargo & Company (NYSE:WFC) by 12.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,877 shares of the financial services provider’s stock after selling 1,145 shares during the period. CFO4Life Group LLC’s holdings in Wells Fargo & Company were worth $631,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Wells Fargo & Company by 2,735,254.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after purchasing an additional 949,735,001 shares during the period. Dimensional Fund Advisors LP lifted its stake in Wells Fargo & Company by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider’s stock valued at $1,471,259,000 after buying an additional 128,207 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Wells Fargo & Company by 5.5% in the second quarter. Pzena Investment Management LLC now owns 10,371,812 shares of the financial services provider’s stock valued at $830,990,000 after acquiring an additional 542,493 shares during the period. Boston Partners grew its position in shares of Wells Fargo & Company by 6.2% during the first quarter. Boston Partners now owns 8,953,009 shares of the financial services provider’s stock worth $640,616,000 after acquiring an additional 523,107 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Wells Fargo & Company by 2.3% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,508,567 shares of the financial services provider’s stock valued at $601,586,000 after acquiring an additional 172,250 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $84.98 on Friday. The stock has a market capitalization of $266.77 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.18 and a beta of 1.22. The business’s 50 day moving average is $83.71 and its two-hundred day moving average is $79.86. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $88.64. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.18. The firm had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 earnings per share. Research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be paid a $0.45 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.61%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WFC. Dbs Bank upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Citigroup raised their price target on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Bank of America boosted their price target on Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Weiss Ratings raised Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, October 8th. Finally, TD Cowen boosted their target price on Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.57.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.