Axxcess Wealth Management LLC Boosts Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Axxcess Wealth Management LLC increased its position in Wells Fargo & Company (NYSE:WFC) by 10.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 72,567 shares of the financial services provider’s stock after acquiring an additional 7,114 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Wells Fargo & Company were worth $4,206,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WFC. Norges Bank bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $2,623,044,000. LSV Asset Management increased its holdings in Wells Fargo & Company by 40.4% during the 4th quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider’s stock valued at $458,162,000 after purchasing an additional 2,677,050 shares during the period. Morningstar Investment Services LLC lifted its stake in Wells Fargo & Company by 103.7% in the fourth quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock worth $189,684,000 after acquiring an additional 1,951,477 shares during the period. 1832 Asset Management L.P. lifted its position in shares of Wells Fargo & Company by 91.5% in the 4th quarter. 1832 Asset Management L.P. now owns 3,503,169 shares of the financial services provider’s stock worth $172,426,000 after purchasing an additional 1,673,917 shares during the period. Finally, Mn Services Vermogensbeheer B.V. purchased a new position in shares of Wells Fargo & Company during the first quarter valued at about $84,819,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded up $0.69 on Friday, hitting $60.39. The company’s stock had a trading volume of 12,533,735 shares, compared to its average volume of 18,276,768. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The firm has a market cap of $210.54 billion, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 1.46 and a beta of 1.17. The company has a fifty day moving average price of $59.16 and a 200-day moving average price of $56.41.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 EPS. On average, equities analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Friday, August 9th will be issued a $0.40 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Friday, August 9th. Wells Fargo & Company’s dividend payout ratio is currently 28.75%.

Analyst Ratings Changes

Several analysts recently weighed in on WFC shares. BMO Capital Markets upped their price target on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Evercore ISI reissued an “outperform” rating and issued a $67.00 target price (down previously from $70.00) on shares of Wells Fargo & Company in a report on Monday, July 15th. Compass Point reiterated a “neutral” rating and issued a $64.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. JPMorgan Chase & Co. boosted their price objective on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group boosted their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Thirteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $59.31.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.