Foresight Wealth Management LLC Invests $228,000 in Wells Fargo & Co (WFC)

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Foresight Wealth Management LLC purchased a new stake in Wells Fargo & Co (NYSE:WFC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,957 shares of the financial services provider’s stock, valued at approximately $228,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors grew its holdings in shares of Wells Fargo & Co by 270.1% in the 3rd quarter. Capital International Investors now owns 89,775,252 shares of the financial services provider’s stock valued at $4,718,587,000 after acquiring an additional 65,517,025 shares in the last quarter. Primecap Management Co. CA grew its holdings in shares of Wells Fargo & Co by 47.1% in the 3rd quarter. Primecap Management Co. CA now owns 38,512,187 shares of the financial services provider’s stock valued at $2,024,201,000 after acquiring an additional 12,337,098 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Wells Fargo & Co by 4,415.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,790,126 shares of the financial services provider’s stock valued at $473,000 after acquiring an additional 21,307,608 shares in the last quarter. Sanders Capital LLC grew its holdings in shares of Wells Fargo & Co by 1.2% in the 4th quarter. Sanders Capital LLC now owns 15,820,838 shares of the financial services provider’s stock valued at $808,166,000 after acquiring an additional 180,608 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in shares of Wells Fargo & Co by 5.7% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 15,545,982 shares of the financial services provider’s stock valued at $817,097,000 after acquiring an additional 839,794 shares in the last quarter. 71.31% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Co stock opened at $48.31 on Friday. Wells Fargo & Co has a 52 week low of $43.02 and a 52 week high of $59.53. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.88 and a quick ratio of 0.87. The stock has a market cap of $243.20 billion, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 0.90 and a beta of 1.12.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Tuesday, January 15th. The financial services provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.04. Wells Fargo & Co had a return on equity of 13.34% and a net margin of 22.95%. The business had revenue of $20.98 billion during the quarter, compared to analysts’ expectations of $21.80 billion. During the same quarter last year, the company posted $1.16 earnings per share. Wells Fargo & Co’s quarterly revenue was down 4.9% on a year-over-year basis. As a group, sell-side analysts predict that Wells Fargo & Co will post 4.97 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 1st were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, January 31st. This represents a $1.80 dividend on an annualized basis and a yield of 3.73%. This is a boost from Wells Fargo & Co’s previous quarterly dividend of $0.43. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 41.10%.

Several brokerages have recently weighed in on WFC. ValuEngine upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. Zacks Investment Research cut Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Monday, December 17th. Credit Suisse Group decreased their price objective on Wells Fargo & Co from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, December 7th. Robert W. Baird restated a “buy” rating and issued a $59.00 price objective on shares of Wells Fargo & Co in a report on Wednesday, January 2nd. Finally, Barclays decreased their price objective on Wells Fargo & Co from $66.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. Wells Fargo & Co currently has an average rating of “Buy” and a consensus price target of $61.33.

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Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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