Sawyer & Company Inc Takes $2.85 Million Position in Wells Fargo & Co (WFC)

Sawyer & Company Inc acquired a new position in shares of Wells Fargo & Co (NYSE:WFC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 46,912 shares of the financial services provider’s stock, valued at approximately $2,846,000. Wells Fargo & Co makes up approximately 1.9% of Sawyer & Company Inc’s investment portfolio, making the stock its 14th biggest holding.

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

WFC has been the subject of several recent research reports. Vetr cut shares of Wells Fargo & Co from a “strong-buy” rating to a “sell” rating and set a $55.47 price target for the company. in a research report on Monday, January 8th. Sanford C. Bernstein upgraded shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and upped their price target for the company from $64.00 to $69.00 in a research report on Wednesday, January 3rd. Keefe, Bruyette & Woods restated a “buy” rating on shares of Wells Fargo & Co in a research report on Tuesday, January 16th. Atlantic Securities upgraded shares of Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 price target for the company in a research report on Wednesday, January 10th. Finally, BMO Capital Markets restated a “hold” rating and issued a $59.00 price target on shares of Wells Fargo & Co in a research report on Thursday, January 4th. Six analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company’s stock. Wells Fargo & Co currently has an average rating of “Hold” and a consensus price target of $62.90.

In other news, VP Richard Levy sold 97,000 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total value of $5,477,590.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ronald Sargent bought 9,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average cost of $55.98 per share, for a total transaction of $503,820.00. Following the completion of the purchase, the director now owns 81 shares of the company’s stock, valued at $4,534.38. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 184,482 shares of company stock worth $10,471,050. Insiders own 0.22% of the company’s stock.

Shares of Wells Fargo & Co (NYSE:WFC) opened at $59.73 on Thursday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.90 and a quick ratio of 0.88. Wells Fargo & Co has a 12 month low of $49.27 and a 12 month high of $66.31. The company has a market cap of $294,130.00, a price-to-earnings ratio of 17.31, a PEG ratio of 1.57 and a beta of 1.01.

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

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Thursday, February 1st. Wells Fargo & Co’s dividend payout ratio is currently 45.22%.

Wells Fargo & Co declared that its Board of Directors has initiated a stock buyback program on Tuesday, January 23rd that authorizes the company to buyback 350,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

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Wells Fargo & Co Profile

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.

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

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