Wells Fargo & Company (NYSE:WFC) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 41.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 124,067 shares of the financial services provider’s stock after selling 88,584 shares during the period. Intech Investment Management LLC’s holdings in Wells Fargo & Company were worth $7,191,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $2,623,044,000. Capital World Investors grew its holdings in Wells Fargo & Company by 1.0% in the 4th quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock worth $1,295,459,000 after buying an additional 263,176 shares in the last quarter. Sanders Capital LLC increased its position in Wells Fargo & Company by 3.2% in the 4th quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock valued at $1,241,231,000 after acquiring an additional 781,772 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Wells Fargo & Company by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,237,905 shares of the financial services provider’s stock valued at $1,143,770,000 after acquiring an additional 526,178 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Wells Fargo & Company by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 18,941,772 shares of the financial services provider’s stock worth $932,352,000 after purchasing an additional 596,521 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.0 %

Shares of Wells Fargo & Company stock traded down $0.01 on Friday, hitting $59.23. 12,362,828 shares of the company traded hands, compared to its average volume of 20,928,956. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55. The company has a 50-day moving average price of $59.33 and a 200 day moving average price of $56.17. The company has a market cap of $206.49 billion, a PE ratio of 12.16, a PEG ratio of 1.46 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. Sell-side analysts predict that Wells Fargo & Company will post 5.12 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s payout ratio is 28.75%.

Wall Street Analyst Weigh In

WFC has been the subject of several research analyst reports. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. BMO Capital Markets boosted their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. HSBC boosted their price target on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Finally, StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Thirteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus price target of $59.31.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.