KG&L Capital Management LLC Sells 5,385 Shares of Wells Fargo & Company $WFC

KG&L Capital Management LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 34.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,047 shares of the financial services provider’s stock after selling 5,385 shares during the quarter. KG&L Capital Management LLC’s holdings in Wells Fargo & Company were worth $842,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in WFC. Access Investment Management LLC bought a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC increased its position in shares of Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 322 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in Wells Fargo & Company during the 2nd quarter valued at $27,000. 1248 Management LLC bought a new stake in Wells Fargo & Company in the first quarter worth $31,000. Finally, Kilter Group LLC bought a new stake in Wells Fargo & Company in the second quarter worth $31,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $96.38 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market cap of $302.54 billion, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 0.87 and a beta of 1.09. The firm has a 50-day moving average of $89.01 and a two-hundred day moving average of $83.98. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $97.76.

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

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.61%.

Wall Street Analyst Weigh In

WFC has been the topic of several recent analyst reports. TD Cowen increased their target price on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Evercore ISI upped their price target on shares of Wells Fargo & Company from $101.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, December 15th. Citigroup increased their price objective on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Keefe, Bruyette & Woods boosted their target price on Wells Fargo & Company from $92.00 to $101.00 and gave the company a “market perform” rating in a research report on Wednesday, December 17th. Finally, Cowen reaffirmed a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average price target of $93.39.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.