SGL Investment Advisors Inc. Invests $544,000 in Wells Fargo & Company $WFC

SGL Investment Advisors Inc. bought a new stake in Wells Fargo & Company (NYSE:WFC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,214 shares of the financial services provider’s stock, valued at approximately $544,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of WFC. Norges Bank purchased a new position in Wells Fargo & Company during the 4th quarter worth $4,512,563,000. Bank of New York Mellon Corp purchased a new stake in shares of Wells Fargo & Company in the second quarter valued at about $1,364,923,000. Deutsche Bank AG purchased a new stake in shares of Wells Fargo & Company in the second quarter valued at about $859,431,000. Pzena Investment Management LLC acquired a new stake in shares of Wells Fargo & Company during the second quarter worth about $729,502,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Wells Fargo & Company during the second quarter worth about $620,861,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $84.70 on Tuesday. The business has a 50 day moving average price of $86.11 and a 200 day moving average price of $82.85. The company has a market capitalization of $256.13 billion, a P/E ratio of 12.31, a PEG ratio of 0.91 and a beta of 0.92. Wells Fargo & Company has a 1-year low of $72.78 and a 1-year high of $97.76. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.23. The company had revenue of $22.62 billion for the quarter, compared to analyst estimates of $21.86 billion. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.Wells Fargo & Company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.60 earnings per share. Sell-side analysts expect that Wells Fargo & Company will post 7.26 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be given a $0.50 dividend. The ex-dividend date is Friday, August 7th. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s payout ratio is presently 29.07%.

Wall Street Analysts Forecast Growth

WFC has been the topic of several recent research reports. UBS Group dropped their price target on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Phillip Securities upgraded Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Robert W. Baird boosted their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Morgan Stanley upped their price target on Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Finally, Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and an average price target of $98.61.

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.