Kwmg LLC Makes New Investment in Wells Fargo & Company (NYSE:WFC)

Kwmg LLC bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,889 shares of the financial services provider’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dai ichi Life Insurance Company Ltd grew its stake in shares of Wells Fargo & Company by 16.4% during the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 141,177 shares of the financial services provider’s stock worth $8,385,000 after acquiring an additional 19,851 shares during the period. Prosperity Consulting Group LLC boosted its position in Wells Fargo & Company by 7.5% during the second quarter. Prosperity Consulting Group LLC now owns 4,993 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 349 shares during the period. J.W. Cole Advisors Inc. raised its position in shares of Wells Fargo & Company by 5.1% in the second quarter. J.W. Cole Advisors Inc. now owns 31,705 shares of the financial services provider’s stock valued at $1,883,000 after purchasing an additional 1,551 shares during the period. Williams Financial LLC purchased a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at approximately $829,000. Finally, Element Capital Management LLC bought a new position in Wells Fargo & Company in the 2nd quarter worth approximately $10,363,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WFC. Morgan Stanley lowered their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their target price for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. The Goldman Sachs Group upped their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Barclays boosted their price objective on shares of Wells Fargo & Company from $75.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $69.92.

Wells Fargo & Company Trading Up 0.9 %

Wells Fargo & Company stock traded up $0.63 during mid-day trading on Monday, hitting $70.59. The company’s stock had a trading volume of 10,210,642 shares, compared to its average volume of 12,090,288. The business has a 50 day moving average price of $72.13 and a 200-day moving average price of $62.97. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. Wells Fargo & Company has a 12 month low of $46.12 and a 12 month high of $78.13. The stock has a market cap of $235.03 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same period in the prior year, the business posted $1.39 EPS. Wells Fargo & Company’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, analysts forecast that Wells Fargo & Company will post 5.43 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s payout ratio is 33.26%.

Insider Activity at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the transaction, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 26.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is currently owned by company insiders.

About Wells Fargo & Company

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