Mason Street Advisors LLC acquired a new position in shares of Wells Fargo & Co. (NYSE:WFC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 622,301 shares of the financial services provider’s stock, valued at approximately $29,454,000. Wells Fargo & Co. makes up 0.9% of Mason Street Advisors LLC’s holdings, making the stock its 14th largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Global X Management Co. LLC raised its stake in Wells Fargo & Co. by 64.8% in the second quarter. Global X Management Co. LLC now owns 2,301 shares of the financial services provider’s stock worth $109,000 after buying an additional 905 shares in the last quarter. Tradewinds Capital Management LLC raised its stake in Wells Fargo & Co. by 4.7% in the second quarter. Tradewinds Capital Management LLC now owns 3,253 shares of the financial services provider’s stock worth $154,000 after buying an additional 147 shares in the last quarter. Cedar Wealth Management LLC raised its stake in Wells Fargo & Co. by 47.8% in the second quarter. Cedar Wealth Management LLC now owns 3,276 shares of the financial services provider’s stock worth $155,000 after buying an additional 1,059 shares in the last quarter. Gemmer Asset Management LLC raised its stake in Wells Fargo & Co. by 6.7% in the second quarter. Gemmer Asset Management LLC now owns 3,735 shares of the financial services provider’s stock worth $177,000 after buying an additional 234 shares in the last quarter. Finally, Bellwether Investment Group LLC purchased a new stake in Wells Fargo & Co. during the second quarter worth $186,000. Institutional investors and hedge funds own 73.78% of the company’s stock.

Institutional Ownership by Quarter for Wells Fargo & Co. (NYSE:WFC)

Wells Fargo & Co. (NYSE:WFC) opened at 51.73 on Monday. Wells Fargo & Co. has a one year low of $43.55 and a one year high of $56.26. The firm has a 50-day moving average of $45.63 and a 200-day moving average of $47.72. The company has a market capitalization of $259.80 billion, a P/E ratio of 12.84 and a beta of 0.93.

Wells Fargo & Co. (NYSE:WFC) last issued its earnings results on Friday, October 14th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.02. Wells Fargo & Co. had a return on equity of 12.72% and a net margin of 23.91%. The business earned $22.30 billion during the quarter. During the same period last year, the business earned $1.05 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, analysts anticipate that Wells Fargo & Co. will post $4.03 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 4th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Wednesday, November 2nd. Wells Fargo & Co.’s dividend payout ratio (DPR) is presently 37.44%.

A number of brokerages have recently issued reports on WFC. Citigroup Inc. reaffirmed a “buy” rating on shares of Wells Fargo & Co. in a report on Thursday. Vetr downgraded shares of Wells Fargo & Co. from a “hold” rating to a “sell” rating and set a $45.66 price target on the stock. in a report on Wednesday, November 9th. Evercore ISI reaffirmed a “buy” rating and set a $51.00 price target on shares of Wells Fargo & Co. in a report on Sunday, October 23rd. FBR & Co downgraded shares of Wells Fargo & Co. from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $50.00 to $45.00 in a report on Wednesday, October 19th. Finally, Macquarie reaffirmed an “underperform” rating on shares of Wells Fargo & Co. in a report on Tuesday, October 18th. Eight analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $49.52.

About Wells Fargo & Co.

Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

5 Day Chart for NYSE:WFC

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