Wells Fargo & Company $WFC Shares Sold by Private Wealth Asset Management LLC

Private Wealth Asset Management LLC decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 8.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,886 shares of the financial services provider’s stock after selling 2,697 shares during the quarter. Private Wealth Asset Management LLC’s holdings in Wells Fargo & Company were worth $2,314,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of WFC. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of 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 in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Wells Fargo & Company by 277.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock valued at $771,092,000 after buying an additional 7,894,919 shares during the last quarter. Strs Ohio bought a new stake in Wells Fargo & Company in the first quarter valued at about $109,643,000. Canada Pension Plan Investment Board increased its holdings in Wells Fargo & Company by 34.6% in the first 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, Principal Financial Group Inc. increased its holdings in Wells Fargo & Company by 30.5% in the first quarter. Principal Financial Group Inc. now owns 4,926,423 shares of the financial services provider’s stock valued at $353,668,000 after buying an additional 1,152,181 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

WFC has been the subject of several research analyst reports. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. The Goldman Sachs Group lowered their price objective on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Citigroup boosted their price objective on Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Raymond James Financial lowered Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 7th. Finally, Morgan Stanley lowered Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $87.00 to $90.00 in a report on Monday, September 29th. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.77.

Wells Fargo & Company Stock Up 7.1%

NYSE:WFC opened at $84.51 on Wednesday. The firm has a market capitalization of $270.71 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.27 and a beta of 1.25. The stock has a 50 day moving average of $80.79 and a 200-day moving average of $76.67. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $86.65. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, beating the consensus estimate of $1.55 by $0.11. The company had revenue of $21.44 billion during the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.42 earnings per share. Analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were issued a $0.45 dividend. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is currently 30.82%.

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.