Wells Fargo & Company $WFC Shares Bought by Dorsey Wright & Associates

Dorsey Wright & Associates grew its stake in Wells Fargo & Company (NYSE:WFC) by 234.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 92,052 shares of the financial services provider’s stock after buying an additional 64,535 shares during the quarter. Wells Fargo & Company accounts for approximately 1.8% of Dorsey Wright & Associates’ portfolio, making the stock its 13th biggest position. Dorsey Wright & Associates’ holdings in Wells Fargo & Company were worth $7,375,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Wells Fargo & Company by 2,735,254.3% in 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 acquiring an additional 949,735,001 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Wells Fargo & Company by 54.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock valued at $1,332,851,000 after purchasing an additional 5,894,747 shares during the last quarter. Strs Ohio acquired a new stake in shares of Wells Fargo & Company in the 1st quarter valued at $109,643,000. Canada Pension Plan Investment Board lifted its position in shares of Wells Fargo & Company by 34.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock worth $381,016,000 after purchasing an additional 1,365,629 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Wells Fargo & Company by 0.4% during the second quarter. Vanguard Group Inc. now owns 302,092,955 shares of the financial services provider’s stock worth $24,203,688,000 after purchasing an additional 1,341,222 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 0.6%

Shares of NYSE WFC opened at $83.89 on Wednesday. The stock has a market cap of $263.35 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $88.64. The business has a 50-day moving average price of $83.86 and a 200 day moving average price of $80.14.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, topping the consensus estimate of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. During the same quarter in the previous year, the company posted $1.42 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm 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 $0.45 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is 29.61%.

Analyst Ratings Changes

A number of research firms have weighed in on WFC. Bank of America raised their price target on Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Evercore ISI increased their price objective on Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Dbs Bank raised Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Finally, Weiss Ratings upgraded shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, October 8th. Eleven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & 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.