Profund Advisors LLC Grows Stake in Wells Fargo & Company (NYSE:WFC)


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Profund Advisors LLC increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 76.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 160,031 shares of the financial services provider’s stock after purchasing an additional 69,530 shares during the quarter. Profund Advisors LLC’s holdings in Wells Fargo & Company were worth $4,830,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in WFC. Hoover Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $30,000. Key Financial Inc acquired a new position in Wells Fargo & Company during the fourth quarter worth approximately $31,000. Flagship Private Wealth LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $31,000. Johnson Midwest Financial LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $35,000. Finally, Capstone Triton Financial Group LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $36,000. 67.25% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently issued reports on the company. DA Davidson boosted their target price on Wells Fargo & Company from $36.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, January 19th. Compass Point upgraded shares of Wells Fargo & Company from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Friday, November 6th. Royal Bank of Canada upgraded shares of Wells Fargo & Company from an “underperform” rating to a “sector perform” rating and raised their target price for the stock from $25.00 to $31.00 in a research note on Monday, November 30th. UBS Group upgraded shares of Wells Fargo & Company from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 12th. Finally, Jefferies Financial Group upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and raised their price objective for the company from $26.00 to $38.00 in a research report on Thursday, January 7th. Eleven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $33.80.

Wells Fargo & Company stock opened at $37.26 on Tuesday. The firm has a market capitalization of $154.05 billion, a PE ratio of 100.70, a price-to-earnings-growth ratio of 4.84 and a beta of 1.07. Wells Fargo & Company has a one year low of $20.76 and a one year high of $46.95. The stock’s 50 day moving average price is $32.83 and its 200 day moving average price is $27.29. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.85 and a current ratio of 0.87.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Thursday, January 14th. The financial services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.04. Wells Fargo & Company had a net margin of 3.72% and a return on equity of 3.18%. The business had revenue of $17.93 billion during the quarter, compared to the consensus estimate of $18 billion. During the same period in the prior year, the firm earned $0.93 earnings per share. The business’s quarterly revenue was down 9.7% compared to the same quarter last year. On average, analysts forecast that Wells Fargo & Company will post 0.48 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 1st. Stockholders of record on Friday, February 5th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, February 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.07%. Wells Fargo & Company’s dividend payout ratio is presently 9.13%.

About Wells Fargo & Company

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

See Also: Earnings Per Share (EPS)

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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