First Command Advisory Services Inc. Raises Position in Wells Fargo & Company $WFC

First Command Advisory Services Inc. lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 6.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,574 shares of the financial services provider’s stock after buying an additional 323 shares during the quarter. First Command Advisory Services Inc.’s holdings in Wells Fargo & Company were worth $447,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of WFC. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Wells Fargo & Company by 2,735,254.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after buying an additional 949,735,001 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Wells Fargo & Company by 277.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock valued at $771,092,000 after buying an additional 7,894,919 shares in the last quarter. Strs Ohio purchased a new position in shares of Wells Fargo & Company during the 1st quarter valued at $109,643,000. Canada Pension Plan Investment Board lifted its stake in shares of Wells Fargo & Company by 34.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock valued at $381,016,000 after buying an additional 1,365,629 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Wells Fargo & Company by 30.5% during the 1st quarter. Principal Financial Group Inc. now owns 4,926,423 shares of the financial services provider’s stock valued at $353,668,000 after buying an additional 1,152,181 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $86.35 on Monday. The firm’s fifty day moving average is $81.89 and its two-hundred day moving average is $77.80. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $87.47. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $276.61 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.19 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The firm had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. During the same period in the previous year, the firm posted $1.42 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a $0.45 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. Wells Fargo & Company’s payout ratio is presently 29.61%.

Wall Street Analyst Weigh In

WFC has been the topic of a number of analyst reports. Evercore ISI lifted their target price on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Friday. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Phillip Securities downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Finally, Citigroup lifted their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.57.

About Wells Fargo & Company

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.