Wells Fargo & Company $WFC Shares Sold by Weiss Asset Management LP

Weiss Asset Management LP decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 33.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 94,200 shares of the financial services provider’s stock after selling 47,369 shares during the quarter. Weiss Asset Management LP’s holdings in Wells Fargo & Company were worth $7,499,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new position in Wells Fargo & Company during the 4th quarter valued at about $4,512,563,000. Capital Research Global Investors grew its holdings in Wells Fargo & Company by 4.9% in the 4th quarter. Capital Research Global Investors now owns 37,421,387 shares of the financial services provider’s stock worth $3,487,687,000 after buying an additional 1,760,484 shares in the last quarter. Legal & General Group Plc increased its position in Wells Fargo & Company by 0.9% in the 4th quarter. Legal & General Group Plc now owns 21,197,423 shares of the financial services provider’s stock valued at $1,975,600,000 after acquiring an additional 188,186 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Wells Fargo & Company by 13.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,625,070 shares of the financial services provider’s stock valued at $1,922,257,000 after acquiring an additional 2,369,260 shares during the period. Finally, Boston Partners raised its stake in Wells Fargo & Company by 5.2% during the 4th quarter. Boston Partners now owns 9,606,215 shares of the financial services provider’s stock valued at $895,466,000 after acquiring an additional 477,745 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.2%

Shares of WFC stock opened at $86.39 on Friday. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. The business’s fifty day moving average is $82.72 and its 200-day moving average is $83.51. The stock has a market cap of $264.37 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 0.94 and a beta of 0.92.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is presently 26.16%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on Wells Fargo & Company from $86.50 to $93.50 and gave the stock a “neutral” rating in a research report on Monday, July 6th. HSBC raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Wednesday, April 1st. Barclays reduced their price objective on shares of Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, April 15th. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Finally, Morgan Stanley raised their target price on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.50.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.