Integrated Wealth Concepts LLC Increases Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Integrated Wealth Concepts LLC increased its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 50.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,071 shares of the financial services provider's stock after acquiring an additional 39,635 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Wells Fargo & Company were worth $8,293,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Syon Capital LLC increased its stake in Wells Fargo & Company by 1.3% in the 4th quarter. Syon Capital LLC now owns 19,053 shares of the financial services provider's stock valued at $1,338,000 after buying an additional 246 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in Wells Fargo & Company by 4.9% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 101,463 shares of the financial services provider's stock worth $7,127,000 after purchasing an additional 4,748 shares in the last quarter. Pinebridge Investments L.P. lifted its position in Wells Fargo & Company by 179.4% in the fourth quarter. Pinebridge Investments L.P. now owns 1,565,137 shares of the financial services provider's stock valued at $109,935,000 after purchasing an additional 1,004,974 shares during the period. Quantessence Capital LLC purchased a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $2,805,000. Finally, Alta Advisers Ltd increased its position in Wells Fargo & Company by 11.2% during the 4th quarter. Alta Advisers Ltd now owns 11,007 shares of the financial services provider's stock worth $773,000 after purchasing an additional 1,107 shares during the period. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Trading Up 0.2 %

Shares of NYSE WFC traded up $0.16 on Friday, reaching $69.72. 17,768,814 shares of the company traded hands, compared to its average volume of 17,461,739. The stock has a market capitalization of $227.65 billion, a PE ratio of 12.96, a P/E/G ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a 50 day moving average of $70.01 and a 200 day moving average of $71.53.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.16. The firm had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm's quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 earnings per share. On average, equities research 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 disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.29%. Wells Fargo & Company's dividend payout ratio is currently 28.73%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the stock an "overweight" rating in a report on Monday, April 7th. Raymond James dropped their price objective on Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating for the company in a research note on Monday, April 14th. Bank of America decreased their target price on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Piper Sandler dropped their price target on Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and a consensus target price of $75.34.

Wells Fargo & Company Profile

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