Asset Management Advisors LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 1.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 85,500 shares of the financial services provider’s stock after buying an additional 890 shares during the period. Wells Fargo & accounts for about 4.3% of Asset Management Advisors LLC’s holdings, making the stock its 7th largest position. Asset Management Advisors LLC’s holdings in Wells Fargo & were worth $4,759,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of WFC. Pictet Asset Management Ltd. increased its position in Wells Fargo & by 3.8% in the first quarter. Pictet Asset Management Ltd. now owns 2,831,205 shares of the financial services provider’s stock valued at $157,585,000 after buying an additional 103,339 shares during the last quarter. Loudon Investment Management LLC increased its position in Wells Fargo & by 8.4% in the first quarter. Loudon Investment Management LLC now owns 28,296 shares of the financial services provider’s stock valued at $1,575,000 after buying an additional 2,200 shares during the last quarter. Insight 2811 Inc. increased its position in Wells Fargo & by 8.8% in the first quarter. Insight 2811 Inc. now owns 6,777 shares of the financial services provider’s stock valued at $377,000 after buying an additional 551 shares during the last quarter. HPM Partners LLC increased its position in Wells Fargo & by 160.6% in the first quarter. HPM Partners LLC now owns 125,880 shares of the financial services provider’s stock valued at $7,006,000 after buying an additional 77,572 shares during the last quarter. Finally, Boston Partners increased its position in Wells Fargo & by 50.0% in the first quarter. Boston Partners now owns 7,948,841 shares of the financial services provider’s stock valued at $442,432,000 after buying an additional 2,648,763 shares during the last quarter. Hedge funds and other institutional investors own 75.85% of the company’s stock.
Shares of Wells Fargo & Company (NYSE WFC) traded down 0.02% during midday trading on Friday, hitting $51.94. 13,693,544 shares of the stock were exchanged. The firm’s 50-day moving average is $54.27 and its 200 day moving average is $55.02. The firm has a market cap of $257.83 billion, a PE ratio of 12.79 and a beta of 0.95. Wells Fargo & Company has a 52-week low of $43.55 and a 52-week high of $59.99.
Wells Fargo & (NYSE:WFC) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The firm had revenue of $22.20 billion during the quarter, compared to analyst estimates of $22.23 billion. During the same period last year, the firm posted $1.01 earnings per share. Wells Fargo &’s revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts forecast that Wells Fargo & Company will post $4.17 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, August 2nd. This is a positive change from Wells Fargo &’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.00%. Wells Fargo &’s dividend payout ratio (DPR) is 38.42%.
Wells Fargo & declared that its board has approved a stock repurchase program on Wednesday, June 28th that permits the company to buyback $11.50 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 4.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
TRADEMARK VIOLATION WARNING: This story was posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this story on another site, it was illegally copied and reposted in violation of international copyright laws. The original version of this story can be viewed at https://stocknewstimes.com/2017/08/11/wells-fargo-company-wfc-shares-bought-by-asset-management-advisors-llc-updated.html.
Several research firms have recently weighed in on WFC. BidaskClub downgraded shares of Wells Fargo & from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. BMO Capital Markets raised shares of Wells Fargo & from an “underperform” rating to a “market perform” rating and reduced their price objective for the company from $50.00 to $47.00 in a research note on Monday, July 31st. They noted that the move was a valuation call. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Wells Fargo & in a research note on Sunday, July 30th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $60.00 price objective on shares of Wells Fargo & in a research note on Friday, July 28th. Finally, Berenberg Bank cut shares of Wells Fargo & from a “hold” rating to a “sell” rating and boosted their price objective for the company from $35.00 to $45.00 in a research note on Friday, July 21st. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $55.87.
In related news, insider Mary T. Mack sold 38,988 shares of the firm’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $52.58, for a total value of $2,049,989.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Petros G. Pelos sold 24,708 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $54.07, for a total transaction of $1,335,961.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 131,278 shares of company stock valued at $6,940,120. 0.22% of the stock is currently owned by insiders.
Wells Fargo & Company Profile
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.
