Lake Street Advisors Group LLC Has $1.50 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Lake Street Advisors Group LLC lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,167 shares of the financial services provider’s stock after buying an additional 246 shares during the period. Lake Street Advisors Group LLC’s holdings in Wells Fargo & Company were worth $1,495,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Wells Fargo & Company during the fourth quarter valued at $2,623,044,000. Capital World Investors boosted its position in Wells Fargo & Company by 1.0% during the fourth quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock valued at $1,295,459,000 after purchasing an additional 263,176 shares during the last quarter. Sanders Capital LLC boosted its position in Wells Fargo & Company by 3.2% during the fourth quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock valued at $1,241,231,000 after purchasing an additional 781,772 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Wells Fargo & Company by 3.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 18,941,772 shares of the financial services provider’s stock valued at $932,352,000 after buying an additional 596,521 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in Wells Fargo & Company by 0.4% during the fourth quarter. California State Teachers Retirement System now owns 5,905,934 shares of the financial services provider’s stock valued at $290,690,000 after buying an additional 25,896 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 5.0 %

Shares of WFC opened at $54.00 on Friday. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $188.26 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 1.43 and a beta of 1.16. The stock’s 50-day moving average price is $57.31 and its 200 day moving average price is $57.93.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The firm had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. During the same period in the previous year, the company posted $1.25 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. As a group, research analysts predict that Wells Fargo & Company will post 5.15 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.96%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s payout ratio is presently 32.85%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods cut their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and cut their target price for the company from $62.00 to $59.00 in a report on Friday, August 16th. Morgan Stanley raised their target price on Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. BMO Capital Markets raised their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday, September 3rd. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $60.29.

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.