Segment Wealth Management LLC Boosts Stock Holdings in Wells Fargo & Company $WFC

Segment Wealth Management LLC grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,392 shares of the financial services provider’s stock after acquiring an additional 235 shares during the quarter. Segment Wealth Management LLC’s holdings in Wells Fargo & Company were worth $1,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Wealth Management Partners LLC raised its stake in shares of Wells Fargo & Company by 3.5% during the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 128 shares during the period. Verum Partners LLC raised its stake in shares of Wells Fargo & Company by 1.8% during the 2nd quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock worth $582,000 after purchasing an additional 128 shares during the period. Motive Wealth Advisors raised its stake in shares of Wells Fargo & Company by 3.7% during the 2nd quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 129 shares during the period. Lynch & Associates IN raised its stake in shares of Wells Fargo & Company by 2.0% during the 2nd quarter. Lynch & Associates IN now owns 6,729 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 135 shares during the period. Finally, Financial Management Professionals Inc. raised its stake in shares of Wells Fargo & Company by 19.3% during the 2nd quarter. Financial Management Professionals Inc. now owns 854 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 138 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WFC has been the topic of a number of recent analyst reports. Evercore ISI lifted their target price on Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research note on Tuesday. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday. Dbs Bank upgraded Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Truist Financial boosted their price objective on Wells Fargo & Company from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, Phillip Securities cut Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $83.74.

Wells Fargo & Company Trading Up 0.2%

Shares of WFC opened at $80.63 on Friday. The business’s 50-day moving average price is $80.77 and its 200-day moving average price is $76.31. Wells Fargo & Company has a twelve month low of $55.98 and a twelve month high of $86.65. The stock has a market cap of $258.28 billion, a PE ratio of 13.81, a P/E/G ratio of 1.24 and a beta of 1.25. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The firm had revenue of $20.82 billion for the quarter, compared to analysts’ expectations of $20.83 billion. During the same period in the prior year, the business posted $1.33 earnings per share. The company’s revenue was up .6% on a year-over-year basis. On average, equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a dividend of $0.45 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 30.82%.

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.