International Assets Investment Management LLC Grows Stock Position in Wells Fargo & Company $WFC

International Assets Investment Management LLC lifted its position in Wells Fargo & Company (NYSE:WFC) by 2,327.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,517 shares of the financial services provider’s stock after acquiring an additional 13,919 shares during the period. International Assets Investment Management LLC’s holdings in Wells Fargo & Company were worth $1,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in WFC. Norges Bank acquired a new stake in Wells Fargo & Company during the 2nd quarter worth $3,990,551,000. Massachusetts Financial Services Co. MA raised its position in shares of Wells Fargo & Company by 54.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock valued at $1,332,851,000 after buying an additional 5,894,747 shares during the last quarter. Amundi lifted its stake in shares of Wells Fargo & Company by 18.2% in the second quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock worth $1,165,868,000 after buying an additional 2,180,693 shares in the last quarter. Laurel Wealth Advisors LLC boosted its position in Wells Fargo & Company by 8,010.7% during the second quarter. Laurel Wealth Advisors LLC now owns 1,973,730 shares of the financial services provider’s stock worth $158,135,000 after acquiring an additional 1,949,395 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Wells Fargo & Company by 939.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,920,799 shares of the financial services provider’s stock worth $153,894,000 after acquiring an additional 1,736,036 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

WFC stock opened at $87.00 on Friday. The business has a fifty day moving average of $90.33 and a two-hundred day moving average of $85.00. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.05. The stock has a market cap of $273.11 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 0.94 and a beta of 1.09. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $97.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, beating the consensus estimate of $1.66 by $0.10. The business had revenue of $11.97 billion for the quarter, compared to analyst estimates of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.43 EPS. As a group, research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.71%.

Wall Street Analyst Weigh In

A number of research firms have commented on WFC. Freedom Capital downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 15th. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. CICC Research initiated coverage on Wells Fargo & Company in a research note on Wednesday, January 14th. They set a “market perform” rating and a $96.00 price objective on the stock. Morgan Stanley upped their target price on Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. Finally, UBS Group reduced their price target on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Thirteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $94.87.

About Wells Fargo & Company

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.