Wells Fargo & Company (NYSE:WFC) Stock Holdings Increased by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 81.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,981,130 shares of the financial services provider’s stock after purchasing an additional 889,953 shares during the period. Public Sector Pension Investment Board owned about 0.06% of Wells Fargo & Company worth $111,914,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Strategic Wealth Partners Ltd. acquired a new position in shares of Wells Fargo & Company in the first quarter worth $201,000. LRI Investments LLC purchased a new position in Wells Fargo & Company in the first quarter valued at about $272,000. Sanibel Captiva Trust Company Inc. increased its position in Wells Fargo & Company by 2.9% in the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 11,778 shares of the financial services provider’s stock worth $683,000 after purchasing an additional 336 shares during the last quarter. Swedbank AB purchased a new stake in shares of Wells Fargo & Company during the 1st quarter worth about $43,924,000. Finally, Cedar Point Capital Partners LLC acquired a new stake in shares of Wells Fargo & Company during the 1st quarter valued at about $207,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $77.17 on Thursday. The firm has a fifty day moving average price of $64.65 and a two-hundred day moving average price of $60.13. Wells Fargo & Company has a fifty-two week low of $42.79 and a fifty-two week high of $78.13. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $256.94 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 1.60 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter last year, the company earned $1.39 earnings per share. The firm’s revenue was down 2.4% on a year-over-year basis. Analysts expect that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s payout ratio is presently 33.26%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Tuesday, September 3rd. Morgan Stanley decreased their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and decreased their price objective for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Finally, The Goldman Sachs Group lowered their target price on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Thirteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and a consensus price target of $63.07.

Insider Activity

In related news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $61.99, for a total value of $2,169,650.00. Following the completion of the transaction, the executive vice president now owns 126,687 shares of the company’s stock, valued at $7,853,327.13. This represents a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the sale, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. The trade was a 26.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.