Wells Fargo & Company $WFC Shares Purchased by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC boosted its stake in Wells Fargo & Company (NYSE:WFC) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,366 shares of the financial services provider’s stock after purchasing an additional 1,295 shares during the period. Integrated Wealth Concepts LLC’s holdings in Wells Fargo & Company were worth $8,569,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in Wells Fargo & Company by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider’s stock valued at $1,471,259,000 after purchasing an additional 128,207 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Wells Fargo & Company by 277.4% in 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 purchasing an additional 7,894,919 shares in the last quarter. Boston Partners increased its holdings in Wells Fargo & Company by 6.2% in the 1st quarter. Boston Partners now owns 8,953,009 shares of the financial services provider’s stock valued at $640,616,000 after purchasing an additional 523,107 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Wells Fargo & Company by 10.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,009,440 shares of the financial services provider’s stock valued at $431,418,000 after purchasing an additional 544,473 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Wells Fargo & Company by 34.6% in 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 purchasing an additional 1,365,629 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $78.98 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. Wells Fargo & Company has a one year low of $50.22 and a one year high of $84.83. The company’s 50-day simple moving average is $80.54 and its 200-day simple moving average is $75.06. The stock has a market capitalization of $253.00 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 1.27 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The business had revenue of $20.82 billion for the quarter, compared to analysts’ expectations of $20.83 billion. During the same quarter last year, the company posted $1.33 earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. Equities analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share 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. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. Wells Fargo & Company’s dividend payout ratio is 30.82%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on WFC shares. The Goldman Sachs Group lowered their target price on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Phillip Securities downgraded Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. TD Cowen started coverage on Wells Fargo & Company in a research note on Thursday, May 15th. They set a “hold” rating and a $83.00 target price for the company. Finally, Cowen restated a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $82.56.

Wells Fargo & Company 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.