Capital Square LLC reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 79.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,506 shares of the financial services provider's stock after selling 40,000 shares during the quarter. Capital Square LLC's holdings in Wells Fargo & Company were worth $434,000 at the end of the most recent quarter.
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Several other large investors also recently bought and sold shares of WFC. Vanguard Group Inc. raised its position in Wells Fargo & Company by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 326,822,162 shares of the financial services provider's stock worth $13,144,788,000 after buying an additional 3,920,830 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Wells Fargo & Company by 20.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 105,621,983 shares of the financial services provider's stock valued at $4,248,626,000 after purchasing an additional 18,252,701 shares during the period. Sanders Capital LLC boosted its holdings in Wells Fargo & Company by 1.7% in the 3rd quarter. Sanders Capital LLC now owns 25,041,576 shares of the financial services provider's stock valued at $1,007,172,000 after purchasing an additional 416,171 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Wells Fargo & Company by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 21,901,706 shares of the financial services provider's stock worth $1,061,357,000 after purchasing an additional 64,080 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Wells Fargo & Company by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 19,602,513 shares of the financial services provider's stock valued at $809,364,000 after buying an additional 571,850 shares during the period. Institutional investors and hedge funds own 72.24% of the company's stock.
Insider Buying and Selling
In related news, EVP Kleber Santos sold 34,698 shares of the stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $46.27, for a total value of $1,605,476.46. Following the completion of the transaction, the executive vice president now directly owns 19,590 shares of the company's stock, valued at approximately $906,429.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.07% of the company's stock.
Wells Fargo & Company Trading Down 0.3 %
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Shares of WFC traded down $0.11 during trading hours on Friday, hitting $40.10. The stock had a trading volume of 14,436,610 shares, compared to its average volume of 23,689,199. Wells Fargo & Company has a 12-month low of $35.25 and a 12-month high of $48.84. The firm has a market cap of $150.46 billion, a P/E ratio of 11.46, a P/E/G ratio of 0.83 and a beta of 1.12. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.83. The company's fifty day simple moving average is $38.87 and its 200 day simple moving average is $42.90.
Wells Fargo & Company (NYSE:WFC - Get Rating) last announced its earnings results on Friday, April 14th. The financial services provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.15 by $0.08. The business had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $20.06 billion. Wells Fargo & Company had a return on equity of 10.07% and a net margin of 15.93%. The company's revenue was up 16.9% on a year-over-year basis. During the same period last year, the business posted $0.88 EPS. Equities research analysts forecast that Wells Fargo & Company will post 4.79 EPS for the current fiscal year.
Wells Fargo & Company Dividend Announcement
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The business also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Friday, May 5th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Thursday, May 4th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 34.38%.
Analysts Set New Price Targets
Several research firms have issued reports on WFC. StockNews.com initiated coverage on Wells Fargo & Company in a research report on Thursday. They issued a "hold" rating for the company. JPMorgan Chase & Co. reduced their price objective on shares of Wells Fargo & Company from $49.00 to $45.00 and set a "neutral" rating for the company in a research note on Monday, April 10th. Citigroup decreased their price target on Wells Fargo & Company from $52.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, April 17th. Morgan Stanley dropped their target price on shares of Wells Fargo & Company from $47.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, April 17th. Finally, Odeon Capital Group cut Wells Fargo & Company from a "buy" rating to a "hold" rating in a report on Monday, March 13th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $49.45.
Wells Fargo & Company Profile
Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage products and services, and consumer and commercial finance. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management.
Read More
- Get a free copy of the StockNews.com research report on Wells Fargo & Company (WFC)
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Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC - Get Rating).
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