ICA Group Wealth Management LLC Sells 3,205 Shares of Wells Fargo & Company (NYSE:WFC)

ICA Group Wealth Management LLC decreased its stake in Wells Fargo & Company (NYSE:WFC) by 85.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 561 shares of the financial services provider’s stock after selling 3,205 shares during the period. ICA Group Wealth Management LLC’s holdings in Wells Fargo & Company were worth $33,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in WFC. Core Wealth Advisors Inc. bought a new position in Wells Fargo & Company in the fourth quarter valued at $25,000. Valued Wealth Advisors LLC raised its holdings in shares of Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after buying an additional 220 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in Wells Fargo & Company in the 4th quarter worth approximately $32,000. Beaird Harris Wealth Management LLC purchased a new stake in Wells Fargo & Company in the fourth quarter worth approximately $34,000. Finally, J.Safra Asset Management Corp grew its position in Wells Fargo & Company by 704.3% during the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 648 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley increased 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 shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. The Goldman Sachs Group lowered their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Keefe, Bruyette & Woods cut their price target on shares of 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. Finally, Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Tuesday, September 3rd. Twelve investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $60.29.

Wells Fargo & Company Stock Up 2.0 %

WFC stock opened at $53.81 on Tuesday. The business has a 50 day moving average of $56.49 and a 200 day moving average of $57.92. The firm has a market cap of $187.60 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 1.27 and a beta of 1.16. Wells Fargo & Company has a twelve month low of $38.38 and a twelve 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.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $20.29 billion. During the same quarter in the previous year, the firm earned $1.25 EPS. Wells Fargo & Company’s quarterly revenue was up .8% compared to the same quarter last year. On average, research analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio is currently 32.85%.

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.