AMP Capital Investors Ltd Boosts Stake in Wells Fargo & Co (WFC)

AMP Capital Investors Ltd lifted its stake in Wells Fargo & Co (NYSE:WFC) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,915,271 shares of the financial services provider’s stock after acquiring an additional 120,365 shares during the quarter. Wells Fargo & Co makes up 0.9% of AMP Capital Investors Ltd’s portfolio, making the stock its 13th biggest holding. AMP Capital Investors Ltd owned 0.06% of Wells Fargo & Co worth $161,623,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Coyle Financial Counsel LLC bought a new stake in Wells Fargo & Co during the first quarter valued at about $101,000. Landaas & Co. WI ADV bought a new stake in Wells Fargo & Co during the second quarter valued at about $117,000. Stelac Advisory Services LLC boosted its holdings in Wells Fargo & Co by 99.3% during the first quarter. Stelac Advisory Services LLC now owns 3,581 shares of the financial services provider’s stock valued at $188,000 after acquiring an additional 1,784 shares during the period. Diligent Investors LLC bought a new stake in Wells Fargo & Co during the second quarter valued at about $200,000. Finally, Day & Ennis LLC bought a new stake in Wells Fargo & Co during the second quarter valued at about $202,000. 77.52% of the stock is currently owned by institutional investors and hedge funds.

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

NYSE WFC opened at $54.23 on Wednesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.88 and a quick ratio of 0.86. Wells Fargo & Co has a twelve month low of $50.26 and a twelve month high of $66.31. The stock has a market capitalization of $268.23 billion, a P/E ratio of 13.19, a P/E/G ratio of 1.49 and a beta of 1.12.

Wells Fargo & Co (NYSE:WFC) last released its earnings results on Friday, July 13th. The financial services provider reported $1.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.04). Wells Fargo & Co had a net margin of 22.03% and a return on equity of 12.38%. The company had revenue of $21.55 billion during the quarter, compared to the consensus estimate of $21.52 billion. sell-side analysts anticipate that Wells Fargo & Co will post 4.55 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Saturday, September 1st. Investors of record on Friday, August 10th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Thursday, August 9th. 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%.

A number of equities research analysts have issued reports on WFC shares. Zacks Investment Research upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a report on Saturday, July 7th. Edward Jones upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating in a report on Monday, September 17th. Morgan Stanley decreased their price target on shares of Wells Fargo & Co from $62.00 to $61.00 and set an “equal weight” rating for the company in a report on Monday, July 16th. Susquehanna Bancshares set a $63.00 price target on shares of Wells Fargo & Co and gave the company a “hold” rating in a report on Friday, July 13th. Finally, Macquarie decreased their price target on shares of Wells Fargo & Co from $63.00 to $62.00 and set a “neutral” rating for the company in a report on Monday, September 17th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $63.28.

Wells Fargo & Co 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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