Wells Fargo & Co (WFC) Stake Raised by Standard Life Aberdeen plc

Standard Life Aberdeen plc increased its stake in Wells Fargo & Co (NYSE:WFC) by 10.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,562,811 shares of the financial services provider’s stock after buying an additional 245,462 shares during the quarter. Standard Life Aberdeen plc owned approximately 0.05% of Wells Fargo & Co worth $142,185,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Advisory Inc. bought a new stake in Wells Fargo & Co in the 2nd quarter valued at $321,220,000. Cadence Capital Management LLC raised its stake in Wells Fargo & Co by 6.4% in the 2nd quarter. Cadence Capital Management LLC now owns 252,620 shares of the financial services provider’s stock valued at $14,005,000 after acquiring an additional 15,299 shares during the period. Sun Life Financial INC raised its stake in Wells Fargo & Co by 1,030.5% in the 2nd quarter. Sun Life Financial INC now owns 11,882 shares of the financial services provider’s stock valued at $659,000 after acquiring an additional 10,831 shares during the period. Truepoint Inc. bought a new stake in Wells Fargo & Co in the 2nd quarter valued at $267,000. Finally, Dakota Wealth Management bought a new position in Wells Fargo & Co during the 2nd quarter worth $507,000. 77.53% of the stock is owned by institutional investors.

WFC has been the topic of several recent research reports. Morgan Stanley upgraded Wells Fargo & Co from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $57.00 to $62.00 in a research report on Monday, July 2nd. Zacks Investment Research upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research report on Saturday, July 7th. Susquehanna Bancshares set a $63.00 price objective on Wells Fargo & Co and gave the stock a “hold” rating in a research report on Friday, July 13th. Keefe, Bruyette & Woods upgraded Wells Fargo & Co from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $57.00 to $63.00 in a research report on Sunday, July 15th. They noted that the move was a valuation call. Finally, Macquarie cut Wells Fargo & Co from an “outperform” rating to a “neutral” rating in a research report on Friday, September 7th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. Wells Fargo & Co presently has an average rating of “Buy” and a consensus target price of $63.34.

Shares of NYSE WFC opened at $54.31 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.22. Wells Fargo & Co has a 52 week low of $50.26 and a 52 week high of $66.31. The firm has a market capitalization of $266.96 billion, a P/E ratio of 13.00, a P/E/G ratio of 1.48 and a beta of 1.12.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings results on Friday, July 13th. The financial services provider reported $1.08 EPS for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.04). Wells Fargo & Co had a return on equity of 12.38% and a net margin of 22.03%. The company had revenue of $21.55 billion during the quarter, compared to the consensus estimate of $21.52 billion. equities analysts anticipate that Wells Fargo & Co will post 4.56 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Saturday, September 1st. Investors of record on Friday, August 10th were given a $0.43 dividend. The ex-dividend date of this dividend was Thursday, August 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.17%. This is a boost from Wells Fargo & Co’s previous quarterly dividend of $0.39. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 41.85%.

In related news, EVP Avid Modjtabai sold 100,000 shares of the firm’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $58.71, for a total value of $5,871,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Hope A. Hardison sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $58.01, for a total value of $1,450,250.00. Following the completion of the sale, the executive vice president now directly owns 109 shares in the company, valued at $6,323.09. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Wells Fargo & Co Company 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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