Dimensional Fund Advisors LP Has $1.18 Billion Position in Wells Fargo & Company (NYSE:WFC)

Dimensional Fund Advisors LP lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,848,290 shares of the financial services provider’s stock after purchasing an additional 831,975 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.57% of Wells Fargo & Company worth $1,178,591,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Core Wealth Advisors Inc. bought a new position in Wells Fargo & Company during the fourth quarter valued at about $25,000. Transcendent Capital Group LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $32,000. Beaird Harris Wealth Management LLC acquired a new stake in Wells Fargo & Company in the 4th quarter worth approximately $34,000. Valued Wealth Advisors LLC boosted its position in Wells Fargo & Company by 53.7% during the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 220 shares during the period. Finally, J.Safra Asset Management Corp grew its holdings in Wells Fargo & Company by 704.3% during the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 648 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. BMO Capital Markets lifted their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, September 3rd. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Evercore ISI dropped their target price on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, September 6th. Twelve research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus price target of $60.29.

Wells Fargo & Company Stock Up 2.3 %

Shares of NYSE:WFC opened at $52.78 on Monday. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The company’s fifty day moving average is $56.60 and its 200-day moving average is $57.93. The company has a market capitalization of $184.01 billion, a PE ratio of 10.84, a P/E/G ratio of 1.27 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.29 by $0.04. The company had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 EPS. Equities research analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were given a dividend of $0.40 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.60 annualized dividend and a yield of 3.03%. Wells Fargo & Company’s dividend payout ratio is 32.85%.

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.