Alberta Investment Management Corp boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 32.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,175 shares of the financial services provider's stock after acquiring an additional 27,375 shares during the period. Alberta Investment Management Corp's holdings in Wells Fargo & Company were worth $5,521,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WFC. United Services Automobile Association lifted its stake in Wells Fargo & Company by 13.7% in the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider's stock valued at $4,000,000 after buying an additional 11,825 shares in the last quarter. Synovus Financial Corp boosted its stake in shares of Wells Fargo & Company by 61.7% during the third quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider's stock valued at $4,983,000 after acquiring an additional 46,525 shares during the last quarter. Trust Point Inc. purchased a new stake in Wells Fargo & Company during the 4th quarter worth about $2,499,000. WealthPlan Investment Management LLC increased its position in Wells Fargo & Company by 2,174.3% during the 3rd quarter. WealthPlan Investment Management LLC now owns 21,287 shares of the financial services provider's stock worth $870,000 after purchasing an additional 20,351 shares in the last quarter. Finally, G2 Capital Management LLC OH acquired a new position in Wells Fargo & Company in the 4th quarter valued at about $278,000. Institutional investors and hedge funds own 75.90% of the company's stock.
Wells Fargo & Company Stock Up 1.2 %
Shares of WFC stock traded up $0.71 during trading hours on Friday, reaching $59.92. The company had a trading volume of 25,386,837 shares, compared to its average volume of 14,286,395. The company has a market capitalization of $208.90 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.56 and a beta of 1.18. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The stock's fifty day simple moving average is $59.24 and its 200 day simple moving average is $53.12.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business's quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.23 earnings per share. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.
Wells Fargo & Company Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be given a $0.35 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.34%. Wells Fargo & Company's payout ratio is currently 29.23%.
Analyst Ratings Changes
A number of brokerages have recently commented on WFC. JPMorgan Chase & Co. lifted their price target on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a "neutral" rating in a report on Wednesday, May 1st. Jefferies Financial Group increased their price target on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a "hold" rating in a research note on Monday, April 8th. Morgan Stanley raised their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an "overweight" rating in a report on Monday, April 15th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Finally, StockNews.com raised Wells Fargo & Company from a "sell" rating to a "hold" rating in a research note on Monday, April 15th. Fourteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of "Hold" and a consensus target price of $58.99.
View Our Latest Analysis on WFC
Wells Fargo & Company Company Profile
(
Free Report)
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.
Featured Stories
Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Wells Fargo & Company, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wells Fargo & Company wasn't on the list.
While Wells Fargo & Company currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
