Wells Fargo & Company (NYSE:WFC) Shares Sold by Quilter Plc

Quilter Plc reduced its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,963 shares of the financial services provider’s stock after selling 450 shares during the period. Quilter Plc’s holdings in Wells Fargo & Company were worth $1,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Core Wealth Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $25,000. Valued Wealth Advisors LLC raised its holdings in shares of Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after buying an additional 220 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $32,000. Beaird Harris Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at $34,000. Finally, J.Safra Asset Management Corp increased its position in shares of Wells Fargo & Company by 704.3% in the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 648 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Tuesday, September 3rd. BMO Capital Markets upped their target price on 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. The Goldman Sachs Group reduced their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and dropped their price objective for the company from $62.00 to $59.00 in a report on Friday, August 16th. Finally, Morgan Stanley raised their target price on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. 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, the stock presently has an average rating of “Hold” and an average target price of $60.29.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $52.78 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55. The business’s 50 day moving average is $56.60 and its two-hundred day moving average is $57.93. The company has a market capitalization of $184.01 billion, a P/E ratio of 10.84, a P/E/G ratio of 1.27 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $20.69 billion for the quarter, compared to analysts’ expectations 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 last year, the company earned $1.25 EPS. Analysts expect that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

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

About Wells Fargo & Company

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.