Rockefeller Financial Services Inc. Has $111.03 Million Position in Wells Fargo & Company (WFC)

Rockefeller Financial Services Inc. cut its position in Wells Fargo & Company (NYSE:WFC) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,003,727 shares of the financial services provider’s stock after selling 71,418 shares during the period. Wells Fargo & accounts for 2.2% of Rockefeller Financial Services Inc.’s holdings, making the stock its 11th largest position. Rockefeller Financial Services Inc.’s holdings in Wells Fargo & were worth $111,027,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dodge & Cox acquired a new position in Wells Fargo & during the fourth quarter worth $3,942,119,000. Norges Bank purchased a new stake in shares of Wells Fargo & during the fourth quarter worth about $2,800,566,000. Canada Pension Plan Investment Board increased its stake in shares of Wells Fargo & by 83.9% in the first quarter. Canada Pension Plan Investment Board now owns 7,972,116 shares of the financial services provider’s stock worth $443,728,000 after buying an additional 3,637,100 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Wells Fargo & by 49.5% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 9,713,557 shares of the financial services provider’s stock worth $540,657,000 after buying an additional 3,214,592 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Wells Fargo & by 44.7% in the fourth quarter. AQR Capital Management LLC now owns 9,439,158 shares of the financial services provider’s stock worth $520,192,000 after buying an additional 2,916,320 shares in the last quarter. 76.05% of the stock is currently owned by institutional investors and hedge funds.

Shares of Wells Fargo & Company (WFC) traded down 0.23% during midday trading on Friday, reaching $51.68. 17,130,641 shares of the company were exchanged. The stock’s 50-day moving average price is $54.06 and its 200-day moving average price is $54.86. Wells Fargo & Company has a 52-week low of $43.55 and a 52-week high of $59.99. The company has a market capitalization of $256.54 billion, a PE ratio of 12.73 and a beta of 0.95. Wells Fargo & also was the recipient of some unusual options trading activity on Thursday. Traders bought 27,464 put options on the company. This represents an increase of 155% compared to the typical daily volume of 10,758 put options.

Wells Fargo & (NYSE:WFC) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate 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 for the quarter, compared to the consensus estimate of $22.23 billion. During the same period in the prior year, the firm posted $1.01 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Company will post $4.17 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 4th will be given a $0.39 dividend. This is an increase 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 3.02%. The ex-dividend date of this dividend is Wednesday, August 2nd. Wells Fargo &’s dividend payout ratio (DPR) is presently 38.42%.

Wells Fargo & declared that its board has approved a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $11.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

TRADEMARK VIOLATION WARNING: “[[title]]” was published by [[site]] and is the property of of [[site]]. If you are accessing this report on another publication, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this report can be read at [[permalink]].

A number of analysts have recently issued reports on WFC shares. Guggenheim upgraded shares of Wells Fargo & from a “sell” rating to a “neutral” rating and cut their price target for the stock from $54.04 to $53.65 in a report on Tuesday, April 25th. Vining Sparks upgraded shares of Wells Fargo & to a “strong-buy” rating and set a $65.00 price target for the company in a report on Thursday, April 27th. Vetr downgraded shares of Wells Fargo & from a “buy” rating to a “hold” rating and set a $57.21 price target for the company. in a report on Thursday, May 4th. Jefferies Group LLC restated a “hold” rating and set a $62.00 price target on shares of Wells Fargo & in a report on Monday, May 8th. Finally, Evercore ISI cut their price target on shares of Wells Fargo & from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, May 12th. Six analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $55.87.

In other news, insider Petros G. Pelos sold 24,708 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $54.07, for a total value of $1,335,961.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael J. Loughlin sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $52.16, for a total transaction of $1,043,200.00. Following the completion of the transaction, the insider now owns 7 shares in the company, valued at $365.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 131,278 shares of company stock worth $6,940,120. Insiders own 0.22% of the company’s stock.

About Wells Fargo &

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.