China Universal Asset Management Co. Ltd. Trims Stake in Wells Fargo & Company $WFC

China Universal Asset Management Co. Ltd. reduced its holdings in Wells Fargo & Company (NYSE:WFC) by 39.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,132 shares of the financial services provider’s stock after selling 7,148 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Wells Fargo & Company were worth $892,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of WFC. Wealth Management Partners LLC raised its stake in Wells Fargo & Company by 3.5% in the second quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock valued at $313,000 after purchasing an additional 128 shares in the last quarter. Verum Partners LLC increased its holdings in shares of Wells Fargo & Company by 1.8% in the 2nd quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock worth $582,000 after buying an additional 128 shares during the last quarter. Motive Wealth Advisors raised its position in shares of Wells Fargo & Company by 3.7% during the 2nd quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock valued at $293,000 after buying an additional 129 shares in the last quarter. Exencial Wealth Advisors LLC lifted its holdings in shares of Wells Fargo & Company by 0.7% during the 2nd quarter. Exencial Wealth Advisors LLC now owns 18,009 shares of the financial services provider’s stock worth $1,443,000 after acquiring an additional 131 shares during the last quarter. Finally, Yukon Wealth Management Inc. grew its position in Wells Fargo & Company by 4.3% in the second quarter. Yukon Wealth Management Inc. now owns 3,179 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 132 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.2%

Shares of NYSE WFC opened at $92.76 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $93.42. The firm’s fifty day moving average is $85.51 and its 200 day moving average is $81.80. The company has a market cap of $291.18 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 0.96 and a beta of 1.11.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.18. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. During the same quarter last year, the firm earned $1.42 EPS. The company’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, November 7th. Wells Fargo & Company’s payout ratio is currently 29.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WFC shares. Barclays raised their price target on Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Bank of America upped their target price on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Citigroup lifted their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Finally, UBS Group reduced their target price on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus price target of $90.04.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.