Wells Fargo & Company (NYSE:WFC) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. lowered its position in Wells Fargo & Company (NYSE:WFC) by 72.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,589,826 shares of the financial services provider’s stock after selling 4,262,938 shares during the quarter. 1832 Asset Management L.P.’s holdings in Wells Fargo & Company were worth $94,420,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. 9258 Wealth Management LLC raised its position in shares of Wells Fargo & Company by 4.1% during the 4th quarter. 9258 Wealth Management LLC now owns 12,972 shares of the financial services provider’s stock worth $638,000 after buying an additional 516 shares in the last quarter. Gryphon Financial Partners LLC raised its holdings in Wells Fargo & Company by 93.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 26,467 shares of the financial services provider’s stock worth $1,246,000 after purchasing an additional 12,778 shares in the last quarter. CreativeOne Wealth LLC bought a new stake in Wells Fargo & Company during the fourth quarter worth approximately $232,000. SageView Advisory Group LLC boosted its stake in Wells Fargo & Company by 169.1% during the 4th quarter. SageView Advisory Group LLC now owns 18,164 shares of the financial services provider’s stock valued at $930,000 after purchasing an additional 11,414 shares in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its stake in Wells Fargo & Company by 9.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 128,739 shares of the financial services provider’s stock valued at $6,427,000 after purchasing an additional 11,259 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WFC. BMO Capital Markets upped their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday, September 3rd. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and cut their target price for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. Twelve investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price of $60.29.

Wells Fargo & Company Trading Up 0.9 %

Shares of NYSE:WFC opened at $56.29 on Monday. The firm has a fifty day moving average of $56.19 and a two-hundred day moving average of $57.90. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55. The firm has a market capitalization of $196.24 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 1.27 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 earnings per share. On average, equities analysts expect that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 2.84%. Wells Fargo & Company’s payout ratio is 32.85%.

About Wells Fargo & Company

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.