Waverton Investment Management Ltd Lowers Stake in Wells Fargo & Co (WFC)

Waverton Investment Management Ltd trimmed its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 95.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,014 shares of the financial services provider’s stock after selling 679,353 shares during the period. Waverton Investment Management Ltd’s holdings in Wells Fargo & Co were worth $1,760,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in WFC. Vanguard Group Inc. raised its stake in shares of Wells Fargo & Co by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 314,755,460 shares of the financial services provider’s stock valued at $17,440,601,000 after purchasing an additional 3,621,402 shares in the last quarter. Capital World Investors raised its stake in shares of Wells Fargo & Co by 10.8% in the 2nd quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock valued at $6,192,259,000 after purchasing an additional 10,927,679 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Wells Fargo & Co by 19.7% in the 2nd quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock valued at $2,511,614,000 after purchasing an additional 7,445,414 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Wells Fargo & Co by 17.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 35,143,414 shares of the financial services provider’s stock valued at $1,937,888,000 after purchasing an additional 5,305,125 shares in the last quarter. Finally, Davis Selected Advisers raised its stake in shares of Wells Fargo & Co by 1.4% in the 3rd quarter. Davis Selected Advisers now owns 26,335,478 shares of the financial services provider’s stock valued at $1,451,064,000 after purchasing an additional 368,667 shares in the last quarter. 75.69% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently issued reports on the stock. Vetr upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $54.49 target price on the stock in a research note on Tuesday, October 24th. UBS Group set a $63.00 target price on shares of Wells Fargo & Co and gave the company a “hold” rating in a research note on Monday, February 5th. Vertical Group upgraded shares of Wells Fargo & Co from a “sell” rating to a “buy” rating in a research note on Thursday, December 7th. Keefe, Bruyette & Woods lowered shares of Wells Fargo & Co from an “outperform” rating to a “market perform” rating and set a $63.00 price objective on the stock. in a research note on Sunday, February 4th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $60.00 price objective on shares of Wells Fargo & Co in a research note on Monday, February 5th. Six research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the stock. Wells Fargo & Co has a consensus rating of “Hold” and a consensus price target of $62.90.

In related news, insider John R. Shrewsberry sold 70,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.90, for a total transaction of $3,983,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Richard Levy sold 97,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. Insiders sold 184,482 shares of company stock valued at $10,471,050 over the last quarter. Insiders own 0.22% of the company’s stock.

Wells Fargo & Co (WFC) opened at $59.95 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt-to-equity ratio of 1.23. The stock has a market cap of $293,215.47, a P/E ratio of 14.73, a PEG ratio of 1.57 and a beta of 1.01. Wells Fargo & Co has a 1-year low of $49.27 and a 1-year high of $66.31.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.07). The company had revenue of $22.05 billion during the quarter, compared to the consensus estimate of $22.64 billion. Wells Fargo & Co had a net margin of 22.57% and a return on equity of 12.24%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business earned $0.96 earnings per share. analysts anticipate that Wells Fargo & Co will post 4.72 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, February 1st. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 38.33%.

Wells Fargo & Co announced that its Board of Directors has authorized a share buyback program on Tuesday, January 23rd that allows the company to buyback 350,000,000 shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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About Wells Fargo & Co

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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