Mycio Wealth Partners LLC reduced its holdings in Wells Fargo (NYSE:WFC) by 48.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,190 shares of the financial services provider’s stock after selling 11,262 shares during the quarter. Mycio Wealth Partners LLC’s holdings in Wells Fargo were worth $740,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Capital World Investors increased its position in shares of Wells Fargo by 10.8% during the 2nd quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock valued at $6,192,259,000 after purchasing an additional 10,927,679 shares during the period. Capital Research Global Investors increased its position in shares of Wells Fargo by 19.7% during the 2nd quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock valued at $2,511,614,000 after purchasing an additional 7,445,414 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Wells Fargo by 26.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock valued at $1,653,464,000 after purchasing an additional 6,291,906 shares during the period. Janus Henderson Group PLC increased its position in shares of Wells Fargo by 396.3% during the 2nd quarter. Janus Henderson Group PLC now owns 5,894,918 shares of the financial services provider’s stock valued at $326,655,000 after purchasing an additional 4,707,207 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Wells Fargo by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 314,755,460 shares of the financial services provider’s stock valued at $17,440,601,000 after purchasing an additional 3,621,402 shares during the period. Hedge funds and other institutional investors own 77.32% of the company’s stock.
Several equities analysts have recently issued reports on WFC shares. Vetr cut Wells Fargo from a “strong-buy” rating to a “sell” rating and set a $55.47 price target on the stock. in a research report on Monday, January 8th. Sanford C. Bernstein upgraded Wells Fargo from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $64.00 to $69.00 in a research report on Wednesday, January 3rd. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Wells Fargo in a research report on Tuesday, January 16th. Atlantic Securities upgraded Wells Fargo from an “underweight” rating to a “neutral” rating and set a $64.00 price target on the stock in a research report on Wednesday, January 10th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $59.00 price target on shares of Wells Fargo in a research report on Thursday, January 4th. Six equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $62.90.
Shares of Wells Fargo (WFC) opened at $55.48 on Tuesday. The company has a market capitalization of $272,666.44, a price-to-earnings ratio of 13.63, a PEG ratio of 1.46 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt-to-equity ratio of 1.23. Wells Fargo has a 12-month low of $49.27 and a 12-month high of $66.31.
Wells Fargo (NYSE:WFC) last issued its earnings results on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.07). The business had revenue of $22.05 billion during the quarter, compared to analyst estimates of $22.64 billion. Wells Fargo had a return on equity of 12.24% and a net margin of 22.57%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the business earned $0.96 EPS. research analysts expect that Wells Fargo will post 4.72 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd were given a $0.39 dividend. The ex-dividend date was Thursday, February 1st. This represents a $1.56 annualized dividend and a dividend yield of 2.81%. Wells Fargo’s dividend payout ratio (DPR) is presently 38.33%.
Wells Fargo announced that its Board of Directors has approved a stock buyback program on Tuesday, January 23rd that allows the company to repurchase 350,000,000 shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other Wells Fargo news, Director Ronald Sargent bought 9,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was acquired at an average price of $55.98 per share, with a total value of $503,820.00. Following the completion of the transaction, the director now directly owns 81 shares in the company, valued at approximately $4,534.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.22% of the company’s stock.
Wells Fargo Profile
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.
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