Claro Advisors LLC Has $671,000 Position in Wells Fargo & Company $WFC

Claro Advisors LLC reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 49.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 8,381 shares of the financial services provider’s stock after selling 8,298 shares during the period. Claro Advisors LLC’s holdings in Wells Fargo & Company were worth $671,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Accretive Wealth Partners LLC acquired a new stake in Wells Fargo & Company during the 1st quarter valued at $399,000. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in shares of Wells Fargo & Company by 10.4% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock worth $54,471,000 after acquiring an additional 71,740 shares during the last quarter. Secured Retirement Advisors LLC acquired a new position in shares of Wells Fargo & Company in the first quarter worth $408,000. Three Bridge Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company in the second quarter worth $364,000. Finally, Allianz SE increased its stake in shares of Wells Fargo & Company by 22.6% in the first quarter. Allianz SE now owns 212,335 shares of the financial services provider’s stock worth $15,244,000 after acquiring an additional 39,150 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Down 0.2%

Shares of NYSE:WFC opened at $86.96 on Thursday. The stock has a market capitalization of $278.57 billion, a PE ratio of 14.30, a P/E/G ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $88.50. The firm has a fifty day moving average price of $83.09 and a 200 day moving average price of $79.06. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07.

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

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is 29.61%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Citigroup upped their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. TD Cowen upped their price target on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Cowen reaffirmed a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, October 15th. Finally, UBS Group dropped their price target on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.57.

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.