Toroso Investments LLC Boosts Holdings in Wells Fargo & Company (NYSE:WFC)

Toroso Investments LLC lifted its stake in Wells Fargo & Company (NYSE:WFC) by 13.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,316 shares of the financial services provider’s stock after purchasing an additional 7,592 shares during the period. Toroso Investments LLC’s holdings in Wells Fargo & Company were worth $2,506,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Kistler Tiffany Companies LLC lifted its position in shares of Wells Fargo & Company by 5.7% in the 3rd quarter. Kistler Tiffany Companies LLC now owns 4,062 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 220 shares during the period. Capital Investment Advisors LLC increased its stake in shares of Wells Fargo & Company by 0.4% in the 3rd quarter. Capital Investment Advisors LLC now owns 62,426 shares of the financial services provider’s stock worth $2,511,000 after acquiring an additional 237 shares in the last quarter. Heritage Wealth Management LLC increased its stake in shares of Wells Fargo & Company by 1.7% in the 3rd quarter. Heritage Wealth Management LLC now owns 14,387 shares of the financial services provider’s stock worth $579,000 after acquiring an additional 237 shares in the last quarter. Nicholas Hoffman & Company LLC. increased its stake in shares of Wells Fargo & Company by 0.8% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 29,744 shares of the financial services provider’s stock worth $1,165,000 after acquiring an additional 238 shares in the last quarter. Finally, Buttonwood Financial Advisors Inc. increased its stake in shares of Wells Fargo & Company by 3.5% in the 3rd quarter. Buttonwood Financial Advisors Inc. now owns 7,171 shares of the financial services provider’s stock worth $304,000 after acquiring an additional 241 shares in the last quarter. 72.24% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $39.30 on Friday. The firm’s 50-day moving average price is $45.12 and its 200-day moving average price is $44.26. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.08. The company has a market cap of $149.10 billion, a PE ratio of 12.52, a PEG ratio of 0.78 and a beta of 1.17. Wells Fargo & Company has a 52-week low of $36.54 and a 52-week high of $54.20.

Wells Fargo & Company (NYSE:WFC – Get Rating) last posted its quarterly earnings data on Friday, January 13th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $19.66 billion for the quarter, compared to the consensus estimate of $20.04 billion. Wells Fargo & Company had a net margin of 15.91% and a return on equity of 9.28%. The firm’s revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.38 earnings per share. As a group, analysts anticipate that Wells Fargo & Company will post 4.81 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 3rd were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Thursday, February 2nd. Wells Fargo & Company’s payout ratio is 38.22%.

Insider Buying and Selling

In related news, EVP Kleber Santos sold 34,698 shares of the firm’s stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $46.27, for a total value of $1,605,476.46. Following the transaction, the executive vice president now owns 19,590 shares of the company’s stock, valued at $906,429.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.05% of the stock is currently owned by insiders.

Analyst Ratings Changes

WFC has been the subject of several research reports. StockNews.com initiated coverage on shares of Wells Fargo & Company in a research note on Thursday. They issued a “hold” rating for the company. Citigroup raised their price objective on shares of Wells Fargo & Company from $48.00 to $52.00 in a research note on Tuesday, January 17th. Barclays raised their price objective on shares of Wells Fargo & Company from $58.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, January 3rd. Jefferies Financial Group lowered shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and reduced their price objective for the company from $49.00 to $46.00 in a research note on Tuesday, January 17th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wells Fargo & Company from $60.00 to $50.00 in a research note on Friday, January 6th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $52.09.

Wells Fargo & Company Company Profile

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Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage products and services, and consumer and commercial finance. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management.