Prospera Financial Services Inc Raises Position in Wells Fargo & Company (WFC)

Prospera Financial Services Inc boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 30.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,482 shares of the financial services provider’s stock after buying an additional 4,587 shares during the period. Prospera Financial Services Inc’s holdings in Wells Fargo & were worth $1,081,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Alexandria Capital LLC raised its stake in shares of Wells Fargo & by 0.3% in the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock valued at $102,000 after buying an additional 6 shares in the last quarter. Winch Advisory Services LLC raised its stake in shares of Wells Fargo & by 0.7% in the first quarter. Winch Advisory Services LLC now owns 2,756 shares of the financial services provider’s stock valued at $153,000 after buying an additional 18 shares in the last quarter. Jackson Grant Investment Advisers Inc. raised its stake in shares of Wells Fargo & by 0.5% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 4,928 shares of the financial services provider’s stock valued at $274,000 after buying an additional 24 shares in the last quarter. Keystone Financial Planning Inc. raised its stake in shares of Wells Fargo & by 0.6% in the first quarter. Keystone Financial Planning Inc. now owns 6,755 shares of the financial services provider’s stock valued at $376,000 after buying an additional 39 shares in the last quarter. Finally, Country Club Trust Company n.a. raised its stake in shares of Wells Fargo & by 0.3% in the second quarter. Country Club Trust Company n.a. now owns 16,742 shares of the financial services provider’s stock valued at $927,000 after buying an additional 47 shares in the last quarter. Institutional investors and hedge funds own 75.85% of the company’s stock.

Wells Fargo & Company (NYSE WFC) traded down 0.99% during trading on Thursday, reaching $52.27. The company’s stock had a trading volume of 7,246,524 shares. The stock has a market cap of $259.47 billion, a P/E ratio of 12.87 and a beta of 0.95. The company’s 50 day moving average price is $54.30 and its 200-day moving average price is $55.04. Wells Fargo & Company has a 1-year low of $43.55 and a 1-year high of $59.99.

Wells Fargo & (NYSE:WFC) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. The firm had revenue of $22.20 billion during the quarter, compared to analyst estimates of $22.23 billion. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 EPS. Equities analysts forecast that Wells Fargo & Company will post $4.17 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be issued a dividend of $0.39 per share. This is a positive change from Wells Fargo &’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Wednesday, August 2nd. Wells Fargo &’s payout ratio is currently 38.42%.

Wells Fargo & declared that its board has initiated a stock repurchase plan on Wednesday, June 28th that allows the company to repurchase $11.50 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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Several research firms recently weighed in on WFC. Keefe, Bruyette & Woods set a $62.00 target price on Wells Fargo & and gave the stock a “buy” rating in a report on Friday, May 19th. Piper Jaffray Companies reduced their target price on Wells Fargo & from $55.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, April 18th. Buckingham Research restated a “neutral” rating and issued a $62.00 target price (up from $60.00) on shares of Wells Fargo & in a report on Monday, July 10th. Instinet reduced their target price on Wells Fargo & from $65.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, April 19th. Finally, Zacks Investment Research lowered Wells Fargo & from a “hold” rating to a “sell” rating in a report on Monday, June 19th. Six analysts have rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $55.87.

In other news, insider Petros G. Pelos sold 24,708 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $54.07, for a total value of $1,335,961.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Hope A. Hardison sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $52.07, for a total value of $1,041,400.00. Following the completion of the transaction, the insider now directly owns 109 shares of the company’s stock, valued at $5,675.63. The disclosure for this sale can be found here. Insiders have sold a total of 131,278 shares of company stock valued at $6,940,120 over the last three months. Corporate insiders own 0.22% of the company’s stock.

Wells Fargo & Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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

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