Capital Research Global Investors grew its position in shares of Wells Fargo & Co (NYSE:WFC) by 227.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,840,076 shares of the financial services provider’s stock after acquiring an additional 13,773,468 shares during the period. Capital Research Global Investors owned about 0.47% of Wells Fargo & Co worth $1,067,396,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Spectrum Asset Management Inc. NB CA boosted its holdings in Wells Fargo & Co by 6.8% during the 3rd quarter. Spectrum Asset Management Inc. NB CA now owns 71,656 shares of the financial services provider’s stock valued at $3,614,000 after acquiring an additional 4,540 shares during the period. Psagot Investment House Ltd. lifted its position in shares of Wells Fargo & Co by 622.4% during the third quarter. Psagot Investment House Ltd. now owns 369,615 shares of the financial services provider’s stock worth $18,643,000 after purchasing an additional 318,451 shares in the last quarter. Voya Financial Advisors Inc. boosted its stake in shares of Wells Fargo & Co by 4.5% in the third quarter. Voya Financial Advisors Inc. now owns 144,766 shares of the financial services provider’s stock valued at $7,341,000 after purchasing an additional 6,245 shares during the period. Redpoint Investment Management Pty Ltd boosted its stake in shares of Wells Fargo & Co by 2.0% in the third quarter. Redpoint Investment Management Pty Ltd now owns 304,326 shares of the financial services provider’s stock valued at $15,350,000 after purchasing an additional 6,019 shares during the period. Finally, MV Capital Management Inc. boosted its stake in shares of Wells Fargo & Co by 49.3% in the third quarter. MV Capital Management Inc. now owns 803 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 265 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on the stock. ValuEngine raised shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Atlantic Securities raised shares of Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $44.00 price target for the company in a research report on Friday, February 28th. Barclays cut shares of Wells Fargo & Co from an “overweight” rating to an “equal weight” rating and set a $59.00 price target for the company. in a research report on Monday, January 6th. Credit Suisse Group dropped their price target on shares of Wells Fargo & Co from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Cfra raised Wells Fargo & Co from a “sell” rating to a “hold” rating and cut their price objective for the stock from $48.00 to $42.00 in a research report on Wednesday, March 4th. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $46.42.
In related news, Director Charles H. Noski purchased 20,000 shares of Wells Fargo & Co stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $29.53 per share, with a total value of $590,600.00. Following the completion of the transaction, the director now directly owns 74 shares in the company, valued at $2,185.22. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles W. Scharf acquired 173,000 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was bought at an average price of $28.69 per share, with a total value of $4,963,370.00. Following the purchase, the chief executive officer now directly owns 176,916 shares of the company’s stock, valued at $5,075,720.04. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.
Wells Fargo & Co stock traded up $1.42 during midday trading on Thursday, reaching $30.39. The company’s stock had a trading volume of 1,481,520 shares, compared to its average volume of 52,025,180. Wells Fargo & Co has a fifty-two week low of $25.10 and a fifty-two week high of $54.75. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 1.37. The company has a market cap of $118.27 billion, a P/E ratio of 7.58, a P/E/G ratio of 0.72 and a beta of 1.14. The business has a 50-day simple moving average of $39.99 and a 200-day simple moving average of $48.49.
Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings data on Tuesday, January 14th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.17). Wells Fargo & Co had a return on equity of 12.11% and a net margin of 18.81%. The business had revenue of $19.86 billion for the quarter, compared to analyst estimates of $20.11 billion. During the same period in the prior year, the company posted $1.21 earnings per share. The company’s revenue was down 5.4% compared to the same quarter last year. As a group, equities analysts forecast that Wells Fargo & Co will post 3.77 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Friday, February 7th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 6.71%. The ex-dividend date of this dividend was Thursday, February 6th. Wells Fargo & Co’s dividend payout ratio (DPR) is 46.58%.
Wells Fargo & Co Company Profile
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.
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