Wells Fargo & Company (NYSE:WFC) Shares Sold by Duality Advisers LP

Duality Advisers LP lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 78.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,927 shares of the financial services provider’s stock after selling 83,350 shares during the period. Duality Advisers LP’s holdings in Wells Fargo & Company were worth $1,329,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $2,623,044,000. Capital World Investors grew its holdings in shares of Wells Fargo & Company by 1.0% during the fourth quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock worth $1,295,459,000 after buying an additional 263,176 shares during the last quarter. Sanders Capital LLC grew its holdings in shares of Wells Fargo & Company by 3.2% during the fourth quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock worth $1,241,231,000 after buying an additional 781,772 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Wells Fargo & Company by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,237,905 shares of the financial services provider’s stock worth $1,143,770,000 after buying an additional 526,178 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Wells Fargo & Company by 3.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 18,941,772 shares of the financial services provider’s stock valued at $932,352,000 after purchasing an additional 596,521 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on WFC shares. HSBC boosted their price target on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Morgan Stanley lifted their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Evercore ISI lifted their price objective on Wells Fargo & Company from $69.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 25th. Jefferies Financial Group lifted their price objective on Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Finally, Argus lifted their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Thirteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price of $59.52.

Wells Fargo & Company Stock Down 5.8 %

NYSE:WFC traded down $3.47 on Friday, reaching $56.69. The stock had a trading volume of 39,433,379 shares, compared to its average volume of 18,328,154. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The company has a 50-day moving average of $59.55 and a 200 day moving average of $55.73. The stock has a market cap of $197.64 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 1.47 and a beta of 1.17. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.08. The company had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $20.29 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 EPS. On average, research analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were paid a $0.35 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.47%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.