Rempart Asset Management Inc. Has $25.69 Million Stake in Wells Fargo & Company (NYSE:WFC)

Rempart Asset Management Inc. lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 8.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 365,685 shares of the financial services provider’s stock after selling 33,421 shares during the period. Wells Fargo & Company makes up about 5.1% of Rempart Asset Management Inc.’s holdings, making the stock its 6th biggest position. Rempart Asset Management Inc.’s holdings in Wells Fargo & Company were worth $25,686,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Acadian Asset Management LLC increased its position in shares of Wells Fargo & Company by 155.1% during the second quarter. Acadian Asset Management LLC now owns 215,449 shares of the financial services provider’s stock worth $12,790,000 after acquiring an additional 130,985 shares in the last quarter. Liberty Wealth Management LLC lifted its holdings in shares of Wells Fargo & Company by 2.4% in the second quarter. Liberty Wealth Management LLC now owns 12,150 shares of the financial services provider’s stock valued at $722,000 after purchasing an additional 282 shares in the last quarter. LGT Fund Management Co Ltd. purchased a new position in shares of Wells Fargo & Company during the second quarter valued at approximately $2,478,000. Royal London Asset Management Ltd. grew its holdings in Wells Fargo & Company by 0.5% during the second quarter. Royal London Asset Management Ltd. now owns 1,517,977 shares of the financial services provider’s stock worth $90,153,000 after buying an additional 8,119 shares in the last quarter. Finally, Sachetta LLC raised its position in Wells Fargo & Company by 4.6% in the 2nd quarter. Sachetta LLC now owns 4,867 shares of the financial services provider’s stock valued at $292,000 after buying an additional 213 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WFC has been the subject of several recent analyst reports. The Goldman Sachs Group upped their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Citigroup increased their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Barclays boosted their target price on Wells Fargo & Company from $75.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday. Keefe, Bruyette & Woods lifted their price target on Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a report on Tuesday, December 3rd. Finally, 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 research report on Wednesday, October 30th. Thirteen equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.24.

Insider Activity

In related news, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the transaction, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. This represents a 21.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the sale, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. This trade represents a 26.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC stock traded down $0.39 during midday trading on Wednesday, reaching $71.20. 1,881,812 shares of the company’s stock traded hands, compared to its average volume of 9,505,171. The stock’s 50-day moving average is $71.77 and its 200 day moving average is $62.69. The stock has a market cap of $237.06 billion, a P/E ratio of 14.80, a PEG ratio of 1.47 and a beta of 1.18. Wells Fargo & Company has a 52-week low of $46.12 and a 52-week high of $78.13. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The business had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.39 earnings per share. As a group, analysts anticipate that Wells Fargo & Company will post 5.43 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s payout ratio is currently 33.26%.

Wells Fargo & Company Company Profile

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