Robeco Institutional Asset Management B.V. boosted its holdings in Wells Fargo & Co (NYSE:WFC) by 52.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 614,003 shares of the financial services provider’s stock after purchasing an additional 209,981 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Wells Fargo & Co were worth $32,179,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Delpha Capital Management LLC acquired a new position in Wells Fargo & Co in the fourth quarter worth $103,000. Coyle Financial Counsel LLC acquired a new position in Wells Fargo & Co in the first quarter worth $101,000. Stelac Advisory Services LLC acquired a new position in Wells Fargo & Co in the fourth quarter worth $109,000. Santori & Peters Inc. acquired a new position in Wells Fargo & Co in the fourth quarter worth $110,000. Finally, Cerebellum GP LLC acquired a new position in Wells Fargo & Co in the fourth quarter worth $132,000. Institutional investors own 76.14% of the company’s stock.
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A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Wells Fargo & Co from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Morgan Stanley downgraded shares of Wells Fargo & Co from an “overweight” rating to an “underweight” rating and reduced their price target for the company from $75.00 to $64.00 in a report on Tuesday, February 6th. Vetr raised shares of Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $54.78 price target for the company in a report on Monday, February 12th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $57.00 price target on shares of Wells Fargo & Co in a report on Thursday, April 5th. Finally, UBS Group raised shares of Wells Fargo & Co from a “neutral” rating to a “buy” rating and set a $55.00 price target for the company in a report on Thursday, April 5th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Wells Fargo & Co has a consensus rating of “Hold” and a consensus price target of $61.83.
In other Wells Fargo & Co news, EVP Petros G. Pelos sold 25,567 shares of Wells Fargo & Co stock in a transaction dated Thursday, May 24th. The stock was sold at an average price of $54.76, for a total transaction of $1,400,048.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.
Wells Fargo & Co opened at $54.50 on Wednesday, according to MarketBeat. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.86 and a current ratio of 0.88. The stock has a market cap of $266.76 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 1.48 and a beta of 1.12. Wells Fargo & Co has a 1 year low of $49.27 and a 1 year high of $66.31.
Wells Fargo & Co (NYSE:WFC) last released its earnings results on Friday, April 13th. The financial services provider reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.05. Wells Fargo & Co had a return on equity of 12.46% and a net margin of 22.80%. The company had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $21.74 billion. During the same quarter in the previous year, the business posted $1.00 EPS. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. sell-side analysts expect that Wells Fargo & Co will post 4.57 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Friday, May 4th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, May 3rd. This represents a $1.56 annualized dividend and a yield of 2.86%. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 37.96%.
Wells Fargo & Co Company Profile
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.
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