Stevens Capital Management LP Acquires 30,093 Shares of Wells Fargo & Company $WFC

Stevens Capital Management LP boosted its stake in Wells Fargo & Company (NYSE:WFC) by 93.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,442 shares of the financial services provider’s stock after purchasing an additional 30,093 shares during the quarter. Wells Fargo & Company comprises approximately 1.4% of Stevens Capital Management LP’s portfolio, making the stock its 18th biggest holding. Stevens Capital Management LP’s holdings in Wells Fargo & Company were worth $5,003,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of WFC. Livforsakringsbolaget Skandia Omsesidigt increased 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 valued at $76,095,550,000 after acquiring an additional 949,735,001 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Wells Fargo & Company by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 302,092,955 shares of the financial services provider’s stock valued at $24,203,688,000 after purchasing an additional 1,341,222 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Wells Fargo & Company by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider’s stock valued at $1,471,259,000 after purchasing an additional 128,207 shares during the last quarter. Massachusetts Financial Services Co. MA raised 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 valued at $1,332,851,000 after buying an additional 5,894,747 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its position in Wells Fargo & Company by 5.5% in the 2nd quarter. Pzena Investment Management LLC now owns 10,371,812 shares of the financial services provider’s stock worth $830,990,000 after buying an additional 542,493 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Up 0.9%

Shares of Wells Fargo & Company stock opened at $83.14 on Friday. 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’s fifty day simple moving average is $84.00 and its two-hundred day simple moving average is $80.25. The company has a market cap of $260.98 billion, a P/E ratio of 13.67, a PEG ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $88.64.

Wells Fargo & Company (NYSE:WFC) last posted its 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. The firm 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%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $1.42 EPS. Research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be issued a $0.45 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.80 annualized dividend and a yield of 2.2%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.61%.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of recent research reports. Evercore ISI raised their price objective on Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Keefe, Bruyette & Woods raised their target price on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, October 15th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Finally, TD Cowen raised their price target on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.57.

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.