Jeppson Wealth Management LLC Decreases Stock Position in Wells Fargo & Company (NYSE:WFC)

Jeppson Wealth Management LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,317 shares of the financial services provider’s stock after selling 400 shares during the period. Jeppson Wealth Management LLC’s holdings in Wells Fargo & Company were worth $1,583,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Wells Fargo & Company in the 4th quarter worth about $2,623,044,000. LSV Asset Management lifted its position in Wells Fargo & Company by 40.4% during the fourth 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 position in Wells Fargo & Company by 103.7% during the fourth quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock valued at $189,684,000 after purchasing an additional 1,951,477 shares during the period. Nordea Investment Management AB boosted its holdings in Wells Fargo & Company by 42.7% in the fourth quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock worth $285,668,000 after purchasing an additional 1,729,132 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its stake in Wells Fargo & Company by 91.5% during the 4th quarter. 1832 Asset Management L.P. now owns 3,503,169 shares of the financial services provider’s stock valued at $172,426,000 after buying an additional 1,673,917 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Citigroup reaffirmed a “neutral” rating and issued a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Evercore ISI boosted their target price on shares of Wells Fargo & Company from $69.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, June 25th. Argus upped their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Fourteen 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $59.15.

Wells Fargo & Company Trading Up 3.4 %

Shares of Wells Fargo & Company stock traded up $1.97 on Friday, hitting $59.39. 31,074,465 shares of the company traded hands, compared to its average volume of 18,610,088. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The stock’s 50 day moving average price is $59.55 and its 200-day moving average price is $55.10. The company has a market cap of $207.05 billion, a PE ratio of 12.40, a PEG ratio of 1.46 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the prior year, the business earned $1.23 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. Equities research analysts predict that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.36%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

About Wells Fargo & Company

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.