Quad Cities Investment Group LLC Grows Position in Wells Fargo & Company (NYSE:WFC)

Quad Cities Investment Group LLC lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,576 shares of the financial services provider’s stock after buying an additional 158 shares during the period. Wells Fargo & Company makes up 1.8% of Quad Cities Investment Group LLC’s holdings, making the stock its 15th biggest position. Quad Cities Investment Group LLC’s holdings in Wells Fargo & Company were worth $3,693,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WFC. Cardinal Capital Management Inc. raised its holdings in shares of Wells Fargo & Company by 2.0% during the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock worth $32,505,000 after acquiring an additional 11,037 shares during the period. Rockefeller Capital Management L.P. increased its position in Wells Fargo & Company by 37.2% during the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock worth $36,055,000 after purchasing an additional 173,083 shares during the last quarter. Atlantic Union Bankshares Corp raised its stake in Wells Fargo & Company by 17.4% during the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock worth $10,031,000 after purchasing an additional 26,320 shares during the period. Chartwell Investment Partners LLC boosted its holdings in Wells Fargo & Company by 16.4% in the 3rd quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock valued at $7,504,000 after purchasing an additional 18,717 shares during the last quarter. Finally, Argus Investors Counsel Inc. grew its stake in shares of Wells Fargo & Company by 34.6% in the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock valued at $1,780,000 after buying an additional 8,107 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 0.9 %

Shares of NYSE:WFC opened at $70.59 on Tuesday. Wells Fargo & Company has a 52 week low of $46.12 and a 52 week high of $78.13. The company’s 50 day moving average is $72.27 and its two-hundred day moving average is $63.07. The company has a market cap of $235.03 billion, a PE ratio of 14.68, a P/E/G ratio of 1.47 and a beta of 1.18. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.28 by $0.14. The firm had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. Wells Fargo & Company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.39 earnings per share. Equities analysts predict that Wells Fargo & Company will post 5.43 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 Sunday, December 1st. Stockholders of record on Friday, November 8th were issued a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.27%. Wells Fargo & Company’s payout ratio is currently 33.26%.

Insider Transactions at Wells Fargo & Company

In related news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the transaction, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. This trade represents a 26.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on WFC. Wolfe Research raised 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. Morgan Stanley reduced their target price on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday, September 30th. Barclays increased their price target on Wells Fargo & Company from $75.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. Finally, UBS Group increased their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average target price of $69.92.

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.