Wells Fargo & Company $WFC Shares Acquired by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ grew its stake in Wells Fargo & Company (NYSE:WFC) by 2.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,027,600 shares of the financial services provider’s stock after acquiring an additional 24,875 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Wells Fargo & Company were worth $86,133,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in WFC. Brighton Jones LLC boosted its position in shares of Wells Fargo & Company by 62.3% during the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after buying an additional 25,436 shares during the period. Strategic Blueprint LLC lifted its stake in Wells Fargo & Company by 55.5% during the 2nd quarter. Strategic Blueprint LLC now owns 8,749 shares of the financial services provider’s stock worth $701,000 after acquiring an additional 3,121 shares in the last quarter. Cardinal Point Capital Management ULC acquired a new position in Wells Fargo & Company during the 2nd quarter worth about $375,000. R Squared Ltd purchased a new position in Wells Fargo & Company during the 2nd quarter valued at about $395,000. Finally, Catalyst Capital Advisors LLC grew its position in Wells Fargo & Company by 50.7% in the 2nd quarter. Catalyst Capital Advisors LLC now owns 3,173 shares of the financial services provider’s stock valued at $254,000 after acquiring an additional 1,067 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 1.2%

NYSE WFC opened at $88.61 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.84. The firm’s fifty day moving average price is $91.49 and its 200 day moving average price is $86.20. The company has a market capitalization of $278.17 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 0.97 and a beta of 1.09. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $97.76.

Wells Fargo & Company (NYSE:WFCGet Free Report) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The firm had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $21.63 billion. During the same period in the previous year, the company earned $1.43 earnings per share. Wells Fargo & Company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 6th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, February 6th. Wells Fargo & Company’s payout ratio is presently 28.71%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WFC. Evercore cut their target price on shares of Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, January 15th. Barclays increased their price objective on shares of Wells Fargo & Company from $94.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. UBS Group restated a “buy” rating and issued a $113.00 price objective on shares of Wells Fargo & Company in a report on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Wednesday, January 21st. Finally, Freedom Capital lowered Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 15th. Thirteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Get Our Latest Stock Analysis on WFC

Wells Fargo & Company News Roundup

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

Insider Activity

In related news, EVP Kleber Santos sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $87.72, for a total transaction of $2,193,000.00. Following the transaction, the executive vice president owned 79,876 shares in the company, valued at $7,006,722.72. This trade represents a 23.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.08% of the stock is currently owned by company insiders.

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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