Gallagher Benefit Services Inc. Invests $881,000 in Wells Fargo & Company (NYSE:WFC)

Gallagher Benefit Services Inc. acquired a new position in Wells Fargo & Company (NYSE:WFC – Get Rating) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 21,320 shares of the financial services provider’s stock, valued at approximately $881,000.

Several other large investors have also recently modified their holdings of the stock. Meyer Handelman Co. increased its holdings in Wells Fargo & Company by 0.4% during the 4th quarter. Meyer Handelman Co. now owns 254,542 shares of the financial services provider’s stock valued at $10,510,000 after purchasing an additional 1,108 shares during the period. Ulysses Management LLC boosted its position in Wells Fargo & Company by 25.0% during the 3rd quarter. Ulysses Management LLC now owns 50,000 shares of the financial services provider’s stock valued at $2,011,000 after acquiring an additional 10,000 shares in the last quarter. Calton & Associates Inc. boosted its position in Wells Fargo & Company by 23.2% during the 4th quarter. Calton & Associates Inc. now owns 6,216 shares of the financial services provider’s stock valued at $257,000 after acquiring an additional 1,170 shares in the last quarter. Lindbrook Capital LLC boosted its position in Wells Fargo & Company by 3.5% during the 4th quarter. Lindbrook Capital LLC now owns 12,882 shares of the financial services provider’s stock valued at $532,000 after acquiring an additional 431 shares in the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $212,000. Hedge funds and other institutional investors own 72.24% of the company’s stock.

Wells Fargo & Company Stock Up 0.7 %

Shares of NYSE:WFC opened at $42.37 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a 12 month low of $35.25 and a 12 month high of $48.84. The company has a 50-day moving average price of $40.21 and a 200 day moving average price of $42.13. The company has a market cap of $158.98 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.86 and a beta of 1.12.

Wells Fargo & Company (NYSE:WFC – Get Rating) last announced its quarterly earnings results on Friday, April 14th. The financial services provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.08. Wells Fargo & Company had a net margin of 15.93% and a return on equity of 10.07%. The firm had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $20.06 billion. During the same quarter last year, the firm earned $0.88 EPS. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. As a group, equities research analysts predict that Wells Fargo & Company will post 4.77 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 5th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Thursday, May 4th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 34.38%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Odeon Capital Group cut Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $44.60 price objective on the stock. in a research report on Wednesday, June 7th. Citigroup reduced their price objective on Wells Fargo & Company from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, April 17th. The Goldman Sachs Group increased their price target on Wells Fargo & Company from $46.00 to $49.00 in a research note on Friday, April 14th. JPMorgan Chase & Co. cut their price target on Wells Fargo & Company from $49.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, April 10th. Finally, StockNews.com began coverage on Wells Fargo & Company in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and an average price target of $48.71.

Wells Fargo & Company Company Profile

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Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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