Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Lowers Stock Position in Wells Fargo & Co (NYSE:WFC)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lowered its position in shares of Wells Fargo & Co (NYSE:WFC) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 794,620 shares of the financial services provider’s stock after selling 23,699 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Wells Fargo & Co were worth $22,806,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Your Advocates Ltd. LLP purchased a new position in shares of Wells Fargo & Co in the 1st quarter worth about $26,000. Evolution Wealth Advisors LLC raised its position in shares of Wells Fargo & Co by 119.5% in the 4th quarter. Evolution Wealth Advisors LLC now owns 562 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 306 shares during the last quarter. Howard Wealth Management LLC purchased a new position in shares of Wells Fargo & Co in the 4th quarter worth about $35,000. Total Clarity Wealth Management Inc. purchased a new position in shares of Wells Fargo & Co in the 4th quarter worth about $35,000. Finally, Wealth Quarterback LLC purchased a new position in shares of Wells Fargo & Co in the 4th quarter worth about $35,000. 74.93% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:WFC traded down $0.25 during mid-day trading on Friday, reaching $24.21. 17,935,080 shares of the company traded hands, compared to its average volume of 49,529,144. The company’s 50 day moving average price is $27.31 and its 200-day moving average price is $42.46. The firm has a market cap of $100.53 billion, a PE ratio of 8.53, a PEG ratio of 3.05 and a beta of 1.18. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.87 and a quick ratio of 0.85. Wells Fargo & Co has a 52 week low of $22.00 and a 52 week high of $54.75.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.85). The company had revenue of $17.72 billion for the quarter, compared to the consensus estimate of $19.40 billion. Wells Fargo & Co had a net margin of 14.52% and a return on equity of 9.28%. The company’s revenue was down 18.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 earnings per share. On average, research analysts predict that Wells Fargo & Co will post 0.79 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 8.43%. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 46.58%.

In other Wells Fargo & Co news, Director Charles H. Noski purchased 20,000 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average cost of $29.53 per share, with a total value of $590,600.00. Following the acquisition, the director now owns 74 shares in the company, valued at $2,185.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles W. Scharf purchased 173,000 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average cost of $28.69 per share, for a total transaction of $4,963,370.00. Following the completion of the acquisition, the chief executive officer now owns 176,916 shares in the company, valued at approximately $5,075,720.04. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Several research firms have recently issued reports on WFC. Robert W. Baird raised Wells Fargo & Co from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research report on Tuesday, January 28th. Credit Suisse Group lowered their price target on Wells Fargo & Co from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, April 21st. Atlantic Securities downgraded Wells Fargo & Co from a “neutral” rating to an “underweight” rating and set a $25.00 price objective for the company. in a report on Tuesday, May 5th. Berenberg Bank upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $26.00 price objective for the company in a report on Thursday, March 26th. Finally, ValuEngine upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating in a report on Wednesday, April 15th. Six research analysts have rated the stock with a sell rating, eighteen have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $38.93.

Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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