Orion Portfolio Solutions LLC Acquires 11,259 Shares of Wells Fargo & Company (NYSE:WFC)

Orion Portfolio Solutions LLC increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 9.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 128,739 shares of the financial services provider’s stock after acquiring an additional 11,259 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Wells Fargo & Company were worth $6,427,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Arlington Trust Co LLC acquired a new stake in Wells Fargo & Company during the fourth quarter worth approximately $25,000. Tennessee Valley Asset Management Partners bought a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $29,000. Fortis Group Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $32,000. Finally, Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.9 %

NYSE WFC traded up $0.53 on Friday, hitting $60.21. The company’s stock had a trading volume of 9,913,040 shares, compared to its average volume of 16,097,602. The company’s 50-day moving average is $59.03 and its 200 day moving average is $52.47. The firm has a market cap of $209.91 billion, a PE ratio of 12.57, a PEG ratio of 1.59 and a beta of 1.18. Wells Fargo & Company has a 1-year low of $38.38 and a 1-year high of $62.55. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same period last year, the company earned $1.23 EPS. Wells Fargo & Company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, analysts predict that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.33%. Wells Fargo & Company’s payout ratio is 29.23%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. HSBC lifted their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, March 28th. Argus upped their price objective on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Evercore ISI raised their target price on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Fourteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and an average price target of $58.99.

Wells Fargo & Company Company Profile

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.