State Board of Administration of Florida Retirement System Sells 19,670 Shares of Wells Fargo & Company $WFC

State Board of Administration of Florida Retirement System decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 0.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,248,561 shares of the financial services provider’s stock after selling 19,670 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Wells Fargo & Company were worth $260,275,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Wealth Management Partners LLC increased its holdings in shares of Wells Fargo & Company by 3.5% in the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock valued at $313,000 after acquiring an additional 128 shares during the period. Verum Partners LLC lifted its stake in shares of Wells Fargo & Company by 1.8% during the 2nd quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock worth $582,000 after purchasing an additional 128 shares during the last quarter. Motive Wealth Advisors boosted its position in Wells Fargo & Company by 3.7% during the second quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 129 shares in the last quarter. Exencial Wealth Advisors LLC boosted its position in Wells Fargo & Company by 0.7% during the second quarter. Exencial Wealth Advisors LLC now owns 18,009 shares of the financial services provider’s stock valued at $1,443,000 after purchasing an additional 131 shares in the last quarter. Finally, Yukon Wealth Management Inc. grew its stake in Wells Fargo & Company by 4.3% in the second quarter. Yukon Wealth Management Inc. now owns 3,179 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 132 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.6%

NYSE:WFC opened at $85.61 on Thursday. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $88.64. The firm has a fifty day simple moving average of $84.20 and a 200-day simple moving average of $80.55. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $268.75 billion, a P/E ratio of 14.08, a PEG ratio of 1.18 and a beta of 1.22.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.18. The firm had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.42 EPS. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is currently 29.61%.

Analyst Upgrades and Downgrades

Several research firms have commented on WFC. Evercore ISI increased their price target on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Bank of America lifted their price target on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Weiss Ratings upgraded Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, October 8th. UBS Group lowered their price objective on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Finally, TD Cowen upped their target price on Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.