Copeland Capital Management LLC lowered its position in shares of Wells Fargo & Co. (NYSE:WFC) by 2.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 50,296 shares of the financial services provider’s stock after selling 1,497 shares during the period. Copeland Capital Management LLC’s holdings in Wells Fargo & Co. were worth $2,380,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in WFC. Svenska Handelsbanken AB publ purchased a new position in shares of Wells Fargo & Co. during the second quarter worth $15,118,000. Exxonmobil Investment Management Inc. TX boosted its position in shares of Wells Fargo & Co. by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 1,195,917 shares of the financial services provider’s stock worth $56,603,000 after buying an additional 71,107 shares during the period. Lazard Asset Management LLC boosted its position in shares of Wells Fargo & Co. by 10.3% in the first quarter. Lazard Asset Management LLC now owns 6,564,216 shares of the financial services provider’s stock worth $317,445,000 after buying an additional 611,374 shares during the period. Aviva PLC boosted its position in shares of Wells Fargo & Co. by 0.7% in the first quarter. Aviva PLC now owns 3,065,051 shares of the financial services provider’s stock worth $148,226,000 after buying an additional 22,620 shares during the period. Finally, Primecap Management Co. CA boosted its position in shares of Wells Fargo & Co. by 20.5% in the first quarter. Primecap Management Co. CA now owns 18,501,167 shares of the financial services provider’s stock worth $894,716,000 after buying an additional 3,149,895 shares during the period. 73.98% of the stock is currently owned by institutional investors.
Wells Fargo & Co. (NYSE:WFC) traded down 2.331% during trading on Monday, hitting $44.674. The stock had a trading volume of 21,543,679 shares. The firm’s 50-day moving average price is $48.28 and its 200-day moving average price is $48.56. Wells Fargo & Co. has a 52-week low of $44.50 and a 52-week high of $56.34. The company has a market cap of $225.40 billion, a price-to-earnings ratio of 11.031 and a beta of 0.90.
Wells Fargo & Co. (NYSE:WFC) last posted its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.01 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.01. The firm earned $22.20 billion during the quarter. Wells Fargo & Co. had a return on equity of 12.95% and a net margin of 24.33%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 EPS. Analysts predict that Wells Fargo & Co. will post $4.02 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 5th were paid a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $1.52 dividend on an annualized basis and a yield of 3.32%. Wells Fargo & Co.’s dividend payout ratio (DPR) is 37.25%.
A number of equities analysts have commented on the company. JPMorgan Chase & Co. cut Wells Fargo & Co. from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $53.50 to $48.00 in a research note on Wednesday, September 21st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Wells Fargo & Co. in a research note on Friday, September 9th. Vetr cut Wells Fargo & Co. from a “strong-buy” rating to a “buy” rating and set a $51.06 price target on the stock. in a research note on Wednesday, July 6th. Raymond James Financial Inc. reaffirmed a “market perform” rating on shares of Wells Fargo & Co. in a research note on Thursday, July 7th. Finally, Bank of America Corp. set a $50.00 price target on Wells Fargo & Co. and gave the stock a “buy” rating in a research note on Monday, September 19th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $51.31.
In related news, COO Timothy J. Sloan sold 20,500 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $48.92, for a total value of $1,002,860.00. Following the completion of the transaction, the chief operating officer now owns 650,815 shares in the company, valued at approximately $31,837,869.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.
Wells Fargo & Co. Company Profile
Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.
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