Kennedy Investment Group Has $1.41 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Kennedy Investment Group decreased its position in Wells Fargo & Company (NYSE:WFC) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,095 shares of the financial services provider’s stock after selling 325 shares during the quarter. Kennedy Investment Group’s holdings in Wells Fargo & Company were worth $1,411,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Magnolia Capital Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 2nd quarter worth approximately $343,000. Quarry LP acquired a new stake in Wells Fargo & Company during the second quarter worth approximately $105,000. Advisory Alpha LLC grew its position in Wells Fargo & Company by 5.2% during the second quarter. Advisory Alpha LLC now owns 5,490 shares of the financial services provider’s stock worth $326,000 after buying an additional 270 shares in the last quarter. 3Chopt Investment Partners LLC grew its position in Wells Fargo & Company by 2.4% during the second quarter. 3Chopt Investment Partners LLC now owns 45,991 shares of the financial services provider’s stock worth $2,731,000 after buying an additional 1,065 shares in the last quarter. Finally, Founders Financial Alliance LLC grew its position in Wells Fargo & Company by 5.4% during the second quarter. Founders Financial Alliance LLC now owns 7,350 shares of the financial services provider’s stock worth $437,000 after buying an additional 378 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Barclays increased their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Tuesday, October 8th. Evercore ISI raised their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price objective for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Finally, The Goldman Sachs Group raised their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $77.99 on Wednesday. The firm has a market capitalization of $259.66 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 1.17 and a beta of 1.18. The stock’s 50 day moving average is $73.26 and its 200-day moving average is $64.23. Wells Fargo & Company has a twelve month low of $47.45 and a twelve month high of $78.30. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.86 earnings per share. Sell-side analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.05%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.