GM Advisory Group LLC Boosts Holdings in Wells Fargo & Company (NYSE:WFC)

GM Advisory Group LLC increased its holdings in Wells Fargo & Company (NYSE:WFC) by 58.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,131 shares of the financial services provider’s stock after buying an additional 10,002 shares during the quarter. GM Advisory Group LLC’s holdings in Wells Fargo & Company were worth $1,906,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Rialto Wealth Management LLC purchased a new position in Wells Fargo & Company during the fourth quarter valued at approximately $26,000. Truvestments Capital LLC purchased a new position in Wells Fargo & Company during the third quarter valued at approximately $29,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company during the fourth quarter valued at approximately $30,000. McClarren Financial Advisors Inc. purchased a new position in Wells Fargo & Company during the fourth quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. lifted its holdings in Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.3 %

WFC stock opened at $71.08 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The stock has a market capitalization of $233.72 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The firm’s fifty day simple moving average is $75.86 and its two-hundred day simple moving average is $69.19.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the previous year, the business posted $0.86 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. As a group, analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Analyst Upgrades and Downgrades

WFC has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Barclays lifted their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Thursday, March 13th. Keefe, Bruyette & Woods boosted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Finally, Truist Financial boosted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $74.39.

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.