Atria Investments Inc Grows Stock Position in Wells Fargo & Company $WFC

Atria Investments Inc grew its holdings in Wells Fargo & Company (NYSE:WFC) by 6.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 280,168 shares of the financial services provider’s stock after acquiring an additional 15,946 shares during the quarter. Atria Investments Inc’s holdings in Wells Fargo & Company were worth $23,484,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Wells Fargo & Company by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 302,092,955 shares of the financial services provider’s stock worth $24,203,688,000 after purchasing an additional 1,341,222 shares during the last quarter. Norges Bank purchased a new stake in shares of Wells Fargo & Company during the second quarter valued at $3,990,551,000. Massachusetts Financial Services Co. MA increased its position in shares of Wells Fargo & Company by 7.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 17,859,680 shares of the financial services provider’s stock valued at $1,496,998,000 after acquiring an additional 1,223,999 shares during the period. Amundi raised its stake in Wells Fargo & Company by 18.2% in the 2nd quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock worth $1,165,868,000 after acquiring an additional 2,180,693 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its stake in Wells Fargo & Company by 1.1% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 8,469,766 shares of the financial services provider’s stock worth $678,598,000 after acquiring an additional 88,358 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 3.1%

WFC stock opened at $89.08 on Thursday. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $97.76. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.05. The firm has a 50-day simple moving average of $91.94 and a 200-day simple moving average of $85.85. The stock has a market capitalization of $279.63 billion, a P/E ratio of 14.21, a P/E/G ratio of 1.01 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.10. The company had revenue of $11.97 billion for the quarter, compared to analysts’ expectations of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.Wells Fargo & Company’s revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.43 EPS. Equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 6th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, February 6th. This represents a $1.80 dividend on an annualized basis and a yield of 2.0%. Wells Fargo & Company’s payout ratio is presently 28.71%.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of research reports. Argus increased their price objective on Wells Fargo & Company from $94.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, January 15th. CICC Research assumed coverage on Wells Fargo & Company in a research report on Wednesday, January 14th. They issued a “market perform” rating and a $96.00 target price on the stock. Barclays increased their price target on shares of Wells Fargo & Company from $94.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Dbs Bank upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Finally, Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Thirteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.29.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.