Pacer Advisors Inc. Has $30.85 Million Stock Position in Wells Fargo & Company $WFC

Pacer Advisors Inc. lifted its position in Wells Fargo & Company (NYSE:WFC) by 24.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 368,058 shares of the financial services provider’s stock after acquiring an additional 73,381 shares during the quarter. Pacer Advisors Inc.’s holdings in Wells Fargo & Company were worth $30,851,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of WFC. Hilton Capital Management LLC acquired a new position in shares of Wells Fargo & Company during the second quarter valued at about $3,656,000. Three Bridge Wealth Advisors LLC bought a new position in Wells Fargo & Company in the 2nd quarter valued at $364,000. NatWest Group plc grew its holdings in Wells Fargo & Company by 4.6% during the 1st quarter. NatWest Group plc now owns 180,418 shares of the financial services provider’s stock worth $12,952,000 after acquiring an additional 7,934 shares during the last quarter. Board of the Pension Protection Fund acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at approximately $40,000. Finally, Empowered Funds LLC raised its position in shares of Wells Fargo & Company by 25.5% during the first quarter. Empowered Funds LLC now owns 238,824 shares of the financial services provider’s stock worth $17,145,000 after acquiring an additional 48,494 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Down 0.0%

Wells Fargo & Company stock opened at $95.26 on Friday. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $95.85. The firm has a 50 day moving average price of $87.92 and a 200-day moving average price of $82.98. The company has a market capitalization of $299.04 billion, a P/E ratio of 15.67, a P/E/G ratio of 0.99 and a beta of 1.11. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.18. The business had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.42 EPS. As a group, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, November 7th. Wells Fargo & Company’s payout ratio is presently 29.61%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WFC shares. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Barclays boosted their price target on Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Bank of America lifted their target price on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $101.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, December 15th. Finally, Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.04.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.