Kelly Financial Services LLC Acquires Shares of 71,978 Wells Fargo & Company (NYSE:WFC)

Kelly Financial Services LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 71,978 shares of the financial services provider's stock, valued at approximately $5,056,000. Wells Fargo & Company makes up 1.5% of Kelly Financial Services LLC's holdings, making the stock its 16th largest position.

Other hedge funds have also modified their holdings of the company. Edgestream Partners L.P. acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at approximately $272,000. Benjamin Edwards Inc. increased its stake in Wells Fargo & Company by 4.4% in the 2nd quarter. Benjamin Edwards Inc. now owns 13,677 shares of the financial services provider's stock valued at $812,000 after purchasing an additional 572 shares in the last quarter. AE Wealth Management LLC raised its holdings in Wells Fargo & Company by 16.4% during the second quarter. AE Wealth Management LLC now owns 93,970 shares of the financial services provider's stock worth $5,581,000 after purchasing an additional 13,241 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Wells Fargo & Company by 0.9% in the second quarter. Pacer Advisors Inc. now owns 248,325 shares of the financial services provider's stock valued at $14,748,000 after purchasing an additional 2,255 shares during the last quarter. Finally, Summit Trail Advisors LLC increased its position in shares of Wells Fargo & Company by 36.0% in the second quarter. Summit Trail Advisors LLC now owns 74,786 shares of the financial services provider's stock valued at $4,442,000 after buying an additional 19,790 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WFC has been the topic of several recent research reports. Barclays boosted their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday. Wolfe Research upgraded shares of Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 price target on the stock in a research report on Tuesday, October 8th. The Goldman Sachs Group lifted their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Compass Point increased their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods boosted their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a report on Thursday. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $73.39.

Wells Fargo & Company Trading Up 1.7 %

Shares of NYSE:WFC traded up $1.27 during trading on Friday, reaching $77.22. 20,609,919 shares of the stock were exchanged, compared to its average volume of 12,688,081. The firm's 50-day moving average price is $72.74 and its 200 day moving average price is $63.46. The firm has a market cap of $257.11 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $46.12 and a 12-month high of $78.13. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the firm posted $0.86 EPS. The business's revenue for the quarter was down .5% compared to the same quarter last year. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.45 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company's payout ratio is 29.74%.

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.