Blue Chip Partners Inc. Buys 10,331 Shares of Wells Fargo & Company (WFC)

Blue Chip Partners Inc. raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 12.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,619 shares of the financial services provider’s stock after acquiring an additional 10,331 shares during the quarter. Wells Fargo & makes up about 1.8% of Blue Chip Partners Inc.’s portfolio, making the stock its 13th biggest position. Blue Chip Partners Inc.’s holdings in Wells Fargo & were worth $5,243,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WFC. Harris Associates L P lifted its holdings in shares of Wells Fargo & by 1.2% during the 1st quarter. Harris Associates L P now owns 23,796,125 shares of the financial services provider’s stock valued at $1,324,492,000 after purchasing an additional 286,710 shares during the last quarter. Boston Partners lifted its holdings in shares of Wells Fargo & by 140.1% during the 2nd quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock valued at $1,057,700,000 after purchasing an additional 11,139,780 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Wells Fargo & by 4.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 14,919,302 shares of the financial services provider’s stock valued at $826,679,000 after purchasing an additional 607,497 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Wells Fargo & by 1.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,648,271 shares of the financial services provider’s stock valued at $756,251,000 after purchasing an additional 232,417 shares during the last quarter. Finally, Longview Partners Guernsey LTD lifted its holdings in shares of Wells Fargo & by 5.3% during the 2nd quarter. Longview Partners Guernsey LTD now owns 12,544,667 shares of the financial services provider’s stock valued at $695,100,000 after purchasing an additional 636,994 shares during the last quarter. 75.04% of the stock is currently owned by institutional investors and hedge funds.

WFC has been the subject of several analyst reports. Vetr lowered Wells Fargo & from a “hold” rating to a “sell” rating and set a $54.49 price objective for the company. in a report on Thursday, November 2nd. UBS AG reiterated a “neutral” rating and set a $56.00 price objective (down previously from $59.00) on shares of Wells Fargo & in a report on Friday, September 15th. Zacks Investment Research upgraded Wells Fargo & from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. Piper Jaffray Companies reiterated a “neutral” rating and set a $50.00 price objective (down previously from $52.00) on shares of Wells Fargo & in a report on Wednesday, September 13th. Finally, Berenberg Bank lowered Wells Fargo & from a “hold” rating to a “sell” rating and increased their price objective for the company from $35.00 to $45.00 in a report on Friday, July 21st. Six research analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $57.20.

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Shares of Wells Fargo & Company (WFC) opened at $53.81 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. Wells Fargo & Company has a twelve month low of $49.27 and a twelve month high of $59.99. The stock has a market capitalization of $265,170.00, a PE ratio of 13.00, a P/E/G ratio of 1.29 and a beta of 0.97.

Wells Fargo & (NYSE:WFC) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). Wells Fargo & had a return on equity of 12.59% and a net margin of 22.00%. The firm had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.30 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The company’s quarterly revenue was down 1.8% on a year-over-year basis. equities research analysts anticipate that Wells Fargo & Company will post 3.97 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.90%. The ex-dividend date is Thursday, November 2nd. Wells Fargo &’s payout ratio is 40.31%.

Wells Fargo & Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

Institutional Ownership by Quarter for Wells Fargo & (NYSE:WFC)

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