Schaller Investment Group Inc. lowered its stake in Wells Fargo (NYSE:WFC) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,840 shares of the financial services provider’s stock after selling 1,438 shares during the period. Wells Fargo accounts for approximately 2.9% of Schaller Investment Group Inc.’s holdings, making the stock its 10th biggest holding. Schaller Investment Group Inc.’s holdings in Wells Fargo were worth $5,936,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Capital World Investors boosted its holdings 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 buying an additional 10,927,679 shares in the last quarter. Capital Research Global Investors boosted its holdings 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 buying an additional 7,445,414 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 buying an additional 6,291,906 shares in the last quarter. Janus Henderson Group PLC boosted its holdings 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 buying an additional 4,707,207 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings 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 buying an additional 3,621,402 shares in the last quarter. Institutional investors and hedge funds own 77.29% of the company’s stock.
A number of analysts have recently commented on WFC shares. Barclays boosted their target price on shares of Wells Fargo from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Sanford C. Bernstein upgraded shares of Wells Fargo from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $64.00 to $69.00 in a report on Wednesday, January 3rd. BMO Capital Markets restated a “hold” rating and set a $59.00 target price on shares of Wells Fargo in a report on Thursday, January 4th. Vining Sparks restated a “buy” rating and set a $75.00 target price on shares of Wells Fargo in a report on Monday, January 8th. Finally, Vetr lowered Wells Fargo from a “strong-buy” rating to a “sell” rating and set a $55.47 price target for the company. in a research report on Monday, January 8th. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $61.31.
In other Wells Fargo news, Director Ronald Sargent bought 9,000 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 81 shares in the company, valued at $4,534.38. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is currently owned by insiders.
Shares of NYSE:WFC opened at $52.56 on Monday. Wells Fargo has a fifty-two week low of $49.27 and a fifty-two week high of $66.31. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $256,374.75, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 1.42 and a beta of 1.13.
Wells Fargo (NYSE:WFC) last issued its earnings results on Friday, April 13th. The financial services provider reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.05. Wells Fargo had a return on equity of 12.44% and a net margin of 22.80%. The business had revenue of $21.93 billion during the quarter, compared to analyst estimates of $21.74 billion. During the same quarter in the previous year, the firm earned $1.00 EPS. Wells Fargo’s revenue was down 1.4% on a year-over-year basis. sell-side analysts forecast that Wells Fargo will post 4.57 earnings per share for the current year.
Wells Fargo announced that its board has initiated a share buyback plan on Tuesday, January 23rd that permits the company to buyback 350,000,000 shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
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Wells Fargo Company 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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