Wells Fargo & Co (NYSE:WFC) Shares Purchased by Cigna Investments Inc. New

Cigna Investments Inc. New increased its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 5.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,161 shares of the financial services provider’s stock after purchasing an additional 5,733 shares during the period. Cigna Investments Inc. New’s holdings in Wells Fargo & Co were worth $3,105,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Financial Advisory Group boosted its stake in Wells Fargo & Co by 3.9% during the 4th quarter. Financial Advisory Group now owns 5,685 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 213 shares during the period. LVW Advisors LLC boosted its stake in Wells Fargo & Co by 0.3% during the 4th quarter. LVW Advisors LLC now owns 76,402 shares of the financial services provider’s stock worth $4,110,000 after purchasing an additional 229 shares during the period. Omnia Family Wealth LLC boosted its stake in Wells Fargo & Co by 3.2% during the 4th quarter. Omnia Family Wealth LLC now owns 7,417 shares of the financial services provider’s stock worth $399,000 after purchasing an additional 230 shares during the period. Keel Point LLC boosted its stake in Wells Fargo & Co by 4.1% during the 4th quarter. Keel Point LLC now owns 5,932 shares of the financial services provider’s stock worth $319,000 after purchasing an additional 234 shares during the period. Finally, Bollard Group LLC boosted its stake in Wells Fargo & Co by 0.7% during the 4th quarter. Bollard Group LLC now owns 35,252 shares of the financial services provider’s stock worth $1,897,000 after purchasing an additional 235 shares during the period. Hedge funds and other institutional investors own 74.93% of the company’s stock.

Several analysts have recently commented on WFC shares. Credit Suisse Group reduced their target price on shares of Wells Fargo & Co from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, April 21st. Deutsche Bank reduced their target price on shares of Wells Fargo & Co from $47.00 to $34.00 and set a “hold” rating for the company in a research note on Thursday, April 2nd. ValuEngine upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Wednesday, April 15th. TheStreet cut shares of Wells Fargo & Co from a “b” rating to a “c+” rating in a research note on Wednesday, February 12th. Finally, Berenberg Bank upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $26.00 target price for the company in a research note on Thursday, March 26th. Six investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and two have assigned a buy rating to the company. Wells Fargo & Co has an average rating of “Hold” and an average target price of $38.93.

In other news, CEO Charles W. Scharf purchased 173,000 shares of the stock in a transaction dated Friday, March 13th. The stock was acquired at an average cost of $28.69 per share, for a total transaction of $4,963,370.00. Following the completion of the acquisition, the chief executive officer now directly owns 176,916 shares in the company, valued at approximately $5,075,720.04. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles H. Noski purchased 20,000 shares of the stock in a transaction dated Friday, March 13th. The shares were purchased at an average price of $29.53 per share, with a total value of $590,600.00. Following the completion of the acquisition, the director now owns 74 shares of the company’s stock, valued at $2,185.22. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

NYSE:WFC traded down $0.29 during mid-day trading on Friday, hitting $24.17. 29,967,288 shares of the company’s stock traded hands, compared to its average volume of 49,031,396. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.85 and a current ratio of 0.87. The firm’s 50 day simple moving average is $27.22 and its 200 day simple moving average is $42.32. Wells Fargo & Co has a 1 year low of $22.00 and a 1 year high of $54.75. The company has a market cap of $100.29 billion, a PE ratio of 8.54, a price-to-earnings-growth ratio of 3.05 and a beta of 1.18.

Wells Fargo & Co (NYSE:WFC) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.85). Wells Fargo & Co had a net margin of 14.52% and a return on equity of 9.28%. The business had revenue of $17.72 billion for the quarter, compared to analysts’ expectations of $19.40 billion. During the same quarter last year, the business posted $1.20 earnings per share. The business’s revenue was down 18.0% compared to the same quarter last year. On average, research analysts expect that Wells Fargo & Co will post 0.79 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $2.04 annualized dividend and a yield of 8.44%. Wells Fargo & Co’s dividend payout ratio (DPR) is currently 46.58%.

About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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