Wells Fargo & Company $WFC Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lowered its position in Wells Fargo & Company (NYSE:WFC) by 50.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 236,714 shares of the financial services provider’s stock after selling 239,692 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Wells Fargo & Company were worth $18,845,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Lexington Hill Partners LLC grew its position in Wells Fargo & Company by 2.9% during the 1st quarter. Lexington Hill Partners LLC now owns 5,950 shares of the financial services provider’s stock worth $474,000 after purchasing an additional 167 shares during the last quarter. Diversified Trust Co raised its holdings in shares of Wells Fargo & Company by 108.8% in the first quarter. Diversified Trust Co now owns 73,685 shares of the financial services provider’s stock valued at $5,866,000 after buying an additional 38,400 shares during the last quarter. Lane Brothers & Co. Inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $893,000. ARP Global Capital Ltd acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $9,066,000. Finally, Nalls Sherbakoff Group LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $41,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 0.1%

Shares of NYSE:WFC opened at $82.31 on Friday. The company has a market cap of $251.89 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 0.96 and a beta of 0.93. The firm’s 50-day simple moving average is $79.70 and its 200-day simple moving average is $84.59. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12. Wells Fargo & Company has a fifty-two week low of $72.78 and a fifty-two week high of $97.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.02. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The firm had revenue of $11.62 billion during the quarter, compared to the consensus estimate of $21.85 billion. During the same quarter last year, the firm earned $1.39 earnings per share. The firm’s revenue was up 6.4% compared to the same quarter last year. As a group, equities research analysts predict that Wells Fargo & Company will post 6.86 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is 27.78%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. KGI Securities cut Wells Fargo & Company to a “hold” rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. decreased their price objective on Wells Fargo & Company from $91.00 to $86.50 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Phillip Securities upgraded Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Finally, Barclays dropped their target price on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.24.

Wells Fargo & Company Company Profile

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.