Wells Fargo & Company $WFC Shares Sold by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund decreased its position in Wells Fargo & Company (NYSE:WFC) by 1.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 359,500 shares of the financial services provider’s stock after selling 6,686 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Wells Fargo & Company were worth $33,505,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of WFC. Redmont Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the third quarter worth $27,000. Joseph Group Capital Management acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $28,000. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the third quarter worth $30,000. Imprint Wealth LLC acquired a new stake in shares of Wells Fargo & Company during the third quarter worth $31,000. Finally, Cloud Capital Management LLC acquired a new stake in shares of Wells Fargo & Company during the third quarter worth $37,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 2.1%

NYSE:WFC opened at $75.16 on Wednesday. The firm has a market capitalization of $229.99 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 0.86 and a beta of 0.96. Wells Fargo & Company has a 1-year low of $71.89 and a 1-year high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.12. The business’s fifty day moving average price is $79.87 and its 200 day moving average price is $85.89.

Wells Fargo & Company (NYSE:WFCGet Free Report) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.02. The firm had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.Wells Fargo & Company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.39 earnings per share. On average, sell-side analysts forecast that Wells Fargo & Company will post 6.82 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, May 8th. Wells Fargo & Company’s payout ratio is presently 27.78%.

Insider Activity at Wells Fargo & Company

In related news, EVP Ellen R. Patterson sold 60,000 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the transaction, the executive vice president directly owned 169,496 shares of the company’s stock, valued at approximately $14,813,950.40. The trade was a 26.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bridget E. Engle sold 30,000 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $87.10, for a total value of $2,613,000.00. Following the transaction, the executive vice president directly owned 83,478 shares in the company, valued at $7,270,933.80. The trade was a 26.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 115,000 shares of company stock valued at $10,050,000. Company insiders own 0.14% of the company’s stock.

Key Headlines Impacting Wells Fargo & Company

Here are the key news stories impacting Wells Fargo & Company this week:

Analyst Upgrades and Downgrades

WFC has been the topic of a number of recent analyst reports. TD Cowen cut their target price on Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, January 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Monday, April 20th. Barclays cut their target price on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group cut their target price on Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.53.

Get Our Latest Analysis on Wells Fargo & Company

About Wells Fargo & Company

(Free Report)

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

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

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