FIL Ltd Has $376.15 Million Holdings in Wells Fargo & Co (WFC)

FIL Ltd lessened its stake in shares of Wells Fargo & Co (NYSE:WFC) by 2.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,156,583 shares of the financial services provider’s stock after selling 208,721 shares during the quarter. FIL Ltd’s holdings in Wells Fargo & Co were worth $376,149,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rothschild Asset Management Inc. boosted its stake in shares of Wells Fargo & Co by 1.0% during the 2nd quarter. Rothschild Asset Management Inc. now owns 589,885 shares of the financial services provider’s stock valued at $32,703,000 after buying an additional 5,584 shares during the period. Commonwealth Bank of Australia lifted its stake in shares of Wells Fargo & Co by 15.3% in the 2nd quarter. Commonwealth Bank of Australia now owns 748,401 shares of the financial services provider’s stock valued at $41,434,000 after purchasing an additional 99,137 shares during the last quarter. Berkshire Asset Management LLC PA lifted its stake in shares of Wells Fargo & Co by 3.3% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 507,054 shares of the financial services provider’s stock valued at $26,651,000 after purchasing an additional 16,315 shares during the last quarter. R. G. Niederhoffer Capital Management Inc. acquired a new stake in shares of Wells Fargo & Co in the 2nd quarter valued at $1,308,000. Finally, Colony Group LLC lifted its stake in shares of Wells Fargo & Co by 76.3% in the 2nd quarter. Colony Group LLC now owns 54,576 shares of the financial services provider’s stock valued at $3,026,000 after purchasing an additional 23,621 shares during the last quarter. Institutional investors and hedge funds own 75.50% of the company’s stock.

NYSE:WFC opened at $51.83 on Monday. Wells Fargo & Co has a 12 month low of $50.02 and a 12 month high of $66.31. The stock has a market capitalization of $252.81 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 1.03 and a beta of 1.01. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

Wells Fargo & Co (NYSE:WFC) last announced its earnings results on Friday, October 12th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.04). Wells Fargo & Co had a return on equity of 12.69% and a net margin of 23.17%. The company had revenue of $21.94 billion for the quarter, compared to analyst estimates of $21.90 billion. Research analysts predict that Wells Fargo & Co will post 4.5 earnings per share for the current fiscal year.

Wells Fargo & Co announced that its board has authorized a share buyback program on Tuesday, October 23rd that allows the company to buyback 350,000,000 shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Friday, November 9th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Thursday, November 8th. Wells Fargo & Co’s dividend payout ratio (DPR) is 41.85%.

Several research firms recently issued reports on WFC. UBS Group set a $63.00 price objective on shares of Wells Fargo & Co and gave the company a “buy” rating in a research note on Friday, September 28th. BMO Capital Markets lifted their target price on shares of Wells Fargo & Co to $65.00 and gave the stock a “market perform” rating in a report on Monday, October 15th. Macquarie downgraded shares of Wells Fargo & Co from an “outperform” rating to a “neutral” rating in a report on Friday, September 7th. They noted that the move was a valuation call. ValuEngine downgraded shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Friday, September 28th. Finally, Wolfe Research began coverage on shares of Wells Fargo & Co in a report on Tuesday, September 25th. They issued an “outperform” rating on the stock. Three research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company’s stock. Wells Fargo & Co has an average rating of “Buy” and a consensus price target of $63.79.

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

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