Wells Fargo & Company (NYSE:WFC) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. raised its position in Wells Fargo & Company (NYSE:WFC) by 0.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 248,325 shares of the financial services provider’s stock after buying an additional 2,255 shares during the quarter. Pacer Advisors Inc.’s holdings in Wells Fargo & Company were worth $14,748,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of WFC. 1832 Asset Management L.P. increased its stake in Wells Fargo & Company by 67.1% in the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock valued at $339,226,000 after buying an additional 2,349,595 shares during the period. Morningstar Investment Services LLC increased its stake in Wells Fargo & Company by 103.7% in the 4th quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock valued at $189,684,000 after buying an additional 1,951,477 shares during the period. Rokos Capital Management LLP increased its stake in Wells Fargo & Company by 141.6% in the 1st quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock valued at $151,853,000 after buying an additional 1,536,152 shares during the period. Mn Services Vermogensbeheer B.V. acquired a new position in Wells Fargo & Company in the 1st quarter valued at $84,819,000. Finally, Canada Pension Plan Investment Board increased its stake in Wells Fargo & Company by 38.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock valued at $297,411,000 after buying an additional 1,415,647 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 0.9 %

Shares of WFC stock opened at $56.29 on Monday. The firm has a 50-day moving average price of $56.19 and a 200 day moving average price of $57.90. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The company has a market capitalization of $196.24 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 1.27 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11.

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

Wells Fargo & Company Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on WFC shares. BMO Capital Markets boosted their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Keefe, Bruyette & Woods decreased their target price 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. The Goldman Sachs Group decreased 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. Evercore ISI decreased their target price on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, September 6th. Finally, Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and decreased their target price for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $60.29.

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.