BI Asset Management Fondsmaeglerselskab A S Purchases 17,651 Shares of Wells Fargo & Company $WFC

BI Asset Management Fondsmaeglerselskab A S boosted its position in Wells Fargo & Company (NYSE:WFC) by 6.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 306,010 shares of the financial services provider’s stock after buying an additional 17,651 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Wells Fargo & Company were worth $25,650,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Access Investment Management LLC acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at approximately $25,000. McElhenny Sheffield Capital Management LLC bought a new position in shares of Wells Fargo & Company in the second quarter valued at about $27,000. Marquette Asset Management LLC lifted its stake in shares of Wells Fargo & Company by 472.4% during the 3rd quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock worth $28,000 after buying an additional 274 shares during the last quarter. Grey Fox Wealth Advisors LLC bought a new stake in shares of Wells Fargo & Company during the 3rd quarter worth about $30,000. Finally, Kilter Group LLC acquired a new position in Wells Fargo & Company in the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.9%

Shares of NYSE WFC opened at $93.11 on Thursday. The company has a market cap of $292.28 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 1.01 and a beta of 1.09. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.05. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $97.76. The stock has a 50-day moving average price of $91.35 and a two-hundred day moving average price of $85.52.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.10. The company had revenue of $11.97 billion for the quarter, compared to analyst estimates of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.43 EPS. As a group, analysts forecast 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 declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 6th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio is presently 28.71%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Bank of America upped their price target on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday, October 21st. TD Cowen decreased their target price on shares of Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, January 15th. Evercore ISI dropped their target price on shares of Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, January 15th. Finally, Wolfe Research reiterated an “outperform” rating and set a $109.00 price target on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Thirteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.92.

About Wells Fargo & Company

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.