Thoroughbred Financial Services LLC Sells 26,223 Shares of Wells Fargo & Company $WFC

Thoroughbred Financial Services LLC lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 45.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,907 shares of the financial services provider’s stock after selling 26,223 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Wells Fargo & Company were worth $2,476,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Wells Fargo & Company by 2,735,254.3% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after purchasing an additional 949,735,001 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Wells Fargo & Company by 54.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock worth $1,332,851,000 after buying an additional 5,894,747 shares during the period. Strs Ohio acquired a new position in Wells Fargo & Company in the 1st quarter valued at about $109,643,000. Canada Pension Plan Investment Board grew its stake in Wells Fargo & Company by 34.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock valued at $381,016,000 after buying an additional 1,365,629 shares during the last quarter. Finally, Phoenix Financial Ltd. raised its holdings in Wells Fargo & Company by 437.6% in the 2nd quarter. Phoenix Financial Ltd. now owns 1,312,103 shares of the financial services provider’s stock valued at $105,120,000 after acquiring an additional 1,068,040 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WFC shares. Barclays boosted their price objective on Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Dbs Bank raised Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Keefe, Bruyette & Woods boosted their price target on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, October 15th. Morgan Stanley increased their price objective on Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Finally, Citigroup lifted their target price on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average price target of $89.57.

Wells Fargo & Company Stock Up 0.3%

Shares of NYSE WFC opened at $84.98 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $88.64. The stock has a market capitalization of $266.77 billion, a P/E ratio of 13.98, a PEG ratio of 1.18 and a beta of 1.22. The stock’s fifty day moving average is $83.71 and its 200 day moving average is $79.92.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.18. The business had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. Wells Fargo & Company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.42 earnings per share. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, November 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.61%.

Wells Fargo & Company 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.