Toroso Investments LLC Grows Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Toroso Investments LLC raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 52.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,534 shares of the financial services provider’s stock after buying an additional 12,255 shares during the period. Toroso Investments LLC’s holdings in Wells Fargo & Company were worth $1,609,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WFC. Gryphon Financial Partners LLC increased its stake in shares of Wells Fargo & Company by 16.4% in the 2nd quarter. Gryphon Financial Partners LLC now owns 31,096 shares of the financial services provider’s stock worth $789,000 after purchasing an additional 4,383 shares in the last quarter. APG Asset Management N.V. increased its stake in shares of Wells Fargo & Company by 577.9% in the 2nd quarter. APG Asset Management N.V. now owns 8,623,425 shares of the financial services provider’s stock worth $329,332,000 after purchasing an additional 7,351,361 shares in the last quarter. Kore Private Wealth LLC increased its stake in shares of Wells Fargo & Company by 10.8% in the 2nd quarter. Kore Private Wealth LLC now owns 9,916 shares of the financial services provider’s stock worth $449,000 after purchasing an additional 968 shares in the last quarter. Johnson Investment Counsel Inc. increased its stake in shares of Wells Fargo & Company by 3.4% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 12,296 shares of the financial services provider’s stock worth $557,000 after purchasing an additional 406 shares in the last quarter. Finally, Inscription Capital LLC purchased a new stake in shares of Wells Fargo & Company in the 2nd quarter worth $968,000. Institutional investors and hedge funds own 70.82% of the company’s stock.

Several research firms have recently commented on WFC. Keefe, Bruyette & Woods began coverage on Wells Fargo & Company in a research note on Wednesday, July 7th. They issued an “outperform” rating and a $57.00 price objective for the company. Barclays increased their price target on Wells Fargo & Company from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 15th. Jefferies Financial Group increased their price target on Wells Fargo & Company from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday. Odeon Capital Group lowered Wells Fargo & Company from a “buy” rating to a “hold” rating in a research note on Monday, July 19th. Finally, Royal Bank of Canada increased their price target on Wells Fargo & Company from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 7th. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $47.95.

Shares of NYSE:WFC opened at $46.05 on Thursday. The firm has a market cap of $189.10 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 0.99 and a beta of 1.36. The firm’s 50 day simple moving average is $47.13 and its 200-day simple moving average is $45.41. Wells Fargo & Company has a one year low of $20.76 and a one year high of $51.41. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.83.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Thursday, October 14th. The financial services provider reported $1.17 EPS for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.13. The business had revenue of $18.83 billion for the quarter, compared to analyst estimates of $18.31 billion. Wells Fargo & Company had a net margin of 19.79% and a return on equity of 9.85%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the company posted $0.56 earnings per share. Equities research analysts predict that Wells Fargo & Company will post 4.37 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Friday, August 6th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.74%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, August 5th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 145.45%.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance. It firm operates through the following segments: Community Banking, Wholesale Banking, Wealth & Investment Management, and Other.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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