World Asset Management Inc Has $8.57 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

World Asset Management Inc lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 189,187 shares of the financial services provider’s stock after selling 9,315 shares during the period. Wells Fargo & Company accounts for 0.8% of World Asset Management Inc’s portfolio, making the stock its 16th largest position. World Asset Management Inc’s holdings in Wells Fargo & Company were worth $8,568,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WFC. Holderness Investments Co. grew its stake in Wells Fargo & Company by 0.8% in the 2nd quarter. Holderness Investments Co. now owns 26,077 shares of the financial services provider’s stock valued at $1,181,000 after buying an additional 215 shares during the last quarter. Jacobi Capital Management LLC grew its stake in Wells Fargo & Company by 1.4% in the 1st quarter. Jacobi Capital Management LLC now owns 16,679 shares of the financial services provider’s stock valued at $652,000 after buying an additional 236 shares during the last quarter. Usca Ria LLC grew its stake in Wells Fargo & Company by 0.4% in the 2nd quarter. Usca Ria LLC now owns 67,013 shares of the financial services provider’s stock valued at $3,035,000 after buying an additional 242 shares during the last quarter. One Capital Management LLC grew its stake in Wells Fargo & Company by 0.6% in the 1st quarter. One Capital Management LLC now owns 38,403 shares of the financial services provider’s stock valued at $1,500,000 after buying an additional 245 shares during the last quarter. Finally, Sargent Bickham Lagudis LLC grew its stake in Wells Fargo & Company by 12.2% in the 2nd quarter. Sargent Bickham Lagudis LLC now owns 2,511 shares of the financial services provider’s stock valued at $114,000 after buying an additional 274 shares during the last quarter. 70.82% of the stock is owned by hedge funds and other institutional investors.

WFC has been the topic of a number of analyst reports. Raymond James increased their target price on shares of Wells Fargo & Company from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, August 26th. TheStreet lowered shares of Wells Fargo & Company from a “b” rating to a “c+” rating in a research report on Friday, July 30th. Keefe, Bruyette & Woods initiated coverage on shares of Wells Fargo & Company in a research report on Wednesday, July 7th. They set an “outperform” rating and a $57.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Wells Fargo & Company from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, September 1st. Finally, Bank of America upgraded shares of Wells Fargo & Company from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Friday, June 4th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $47.52.

NYSE:WFC traded up $0.08 on Wednesday, hitting $46.13. The company had a trading volume of 424,924 shares, compared to its average volume of 30,603,697. The stock has a market capitalization of $189.43 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 0.99 and a beta of 1.36. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm has a 50 day moving average of $46.23 and a two-hundred day moving average of $44.24. Wells Fargo & Company has a 52 week low of $20.76 and a 52 week high of $51.41.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, July 13th. The financial services provider reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.40. The business had revenue of $20.27 billion during the quarter, compared to the consensus estimate of $17.69 billion. Wells Fargo & Company had a net margin of 19.79% and a return on equity of 9.85%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.66) EPS. As a group, equities analysts forecast that Wells Fargo & Company will post 4.37 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Friday, August 6th were paid a $0.20 dividend. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, August 5th. This represents a $0.80 annualized dividend and a yield of 1.73%. Wells Fargo & Company’s dividend payout ratio is presently 145.45%.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance. It firm operates through the following segments: Community Banking, Wholesale Banking, Wealth & Investment Management, and Other.

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

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