Inspirion Wealth Advisors LLC Takes Position in Wells Fargo & Co (WFC)

Inspirion Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Co (NYSE:WFC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,560 shares of the financial services provider’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of WFC. Stelac Advisory Services LLC purchased a new stake in shares of Wells Fargo & Co during the second quarter worth about $104,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Wells Fargo & Co by 0.3% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 6 shares during the period. Westside Investment Management Inc. boosted its holdings in shares of Wells Fargo & Co by 63.9% during the second quarter. Westside Investment Management Inc. now owns 2,286 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 891 shares during the period. BKS Advisors LLC purchased a new stake in shares of Wells Fargo & Co during the third quarter worth about $143,000. Finally, BDO Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Co during the second quarter worth about $151,000. Institutional investors and hedge funds own 75.69% of the company’s stock.

In other Wells Fargo & Co news, Director Ronald Sargent bought 9,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was acquired at an average price of $55.98 per share, with a total value of $503,820.00. Following the completion of the purchase, the director now owns 81 shares of the company’s stock, valued at $4,534.38. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Richard Levy sold 97,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. Insiders have sold 184,482 shares of company stock valued at $10,471,050 in the last ninety days. Insiders own 0.22% of the company’s stock.

A number of research firms have recently weighed in on WFC. Morgan Stanley increased their target price on shares of Wells Fargo & Co from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Keefe, Bruyette & Woods lowered shares of Wells Fargo & Co from an “outperform” rating to a “market perform” rating and set a $63.00 target price for the company. in a report on Sunday, February 4th. Nomura dropped their target price on shares of Wells Fargo & Co from $79.00 to $76.00 and set a “buy” rating for the company in a report on Monday, February 5th. BMO Capital Markets reiterated a “hold” rating and set a $60.00 target price on shares of Wells Fargo & Co in a report on Monday, February 5th. Finally, Citigroup lowered shares of Wells Fargo & Co from a “buy” rating to a “neutral” rating and set a $65.00 target price for the company. in a report on Monday, February 5th. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $62.90.

Wells Fargo & Co (NYSE:WFC) opened at $59.17 on Friday. Wells Fargo & Co has a one year low of $49.27 and a one year high of $66.31. The firm has a market cap of $291,370.00, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 1.54 and a beta of 1.01. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23.

Wells Fargo & Co (NYSE:WFC) last announced its earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.07). Wells Fargo & Co had a net margin of 22.57% and a return on equity of 12.24%. The business had revenue of $22.05 billion for the quarter, compared to the consensus estimate of $22.64 billion. During the same period in the prior year, the business posted $0.96 EPS. Wells Fargo & Co’s revenue for the quarter was up 2.2% on a year-over-year basis. equities research analysts expect that Wells Fargo & Co will post 4.72 EPS for the current fiscal year.

Wells Fargo & Co declared that its Board of Directors has authorized a share buyback plan on Tuesday, January 23rd that allows the company to buyback 350,000,000 shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Thursday, February 1st. Wells Fargo & Co’s dividend payout ratio is 45.22%.

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About Wells Fargo & Co

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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

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