Kentucky Retirement Systems acquired a new stake in shares of Wells Fargo & Co. (NYSE:WFC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 392,885 shares of the financial services provider’s stock, valued at approximately $18,595,000. Wells Fargo & Co. comprises about 1.2% of Kentucky Retirement Systems’ investment portfolio, making the stock its 13th largest position.

Several other large investors have also added to or reduced their stakes in WFC. Vanguard Group Inc. boosted its stake in Wells Fargo & Co. by 2.2% in the second quarter. Vanguard Group Inc. now owns 288,028,042 shares of the financial services provider’s stock valued at $13,632,368,000 after buying an additional 6,247,583 shares during the period. Wellington Management Group LLP boosted its stake in Wells Fargo & Co. by 2.7% in the first quarter. Wellington Management Group LLP now owns 131,270,916 shares of the financial services provider’s stock valued at $6,348,262,000 after buying an additional 3,450,553 shares during the period. Geode Capital Management LLC boosted its stake in Wells Fargo & Co. by 1.3% in the first quarter. Geode Capital Management LLC now owns 39,052,057 shares of the financial services provider’s stock valued at $1,884,841,000 after buying an additional 502,040 shares during the period. TIAA CREF Investment Management LLC boosted its stake in Wells Fargo & Co. by 2.8% in the second quarter. TIAA CREF Investment Management LLC now owns 29,781,903 shares of the financial services provider’s stock valued at $1,409,577,000 after buying an additional 810,161 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Wells Fargo & Co. by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 24,714,185 shares of the financial services provider’s stock valued at $1,169,680,000 after buying an additional 2,987,795 shares during the period. 73.78% of the stock is currently owned by institutional investors.

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

Shares of Wells Fargo & Co. (NYSE:WFC) traded up 0.63% on Friday, reaching $52.82. The company had a trading volume of 29,673,414 shares. The company has a market capitalization of $265.28 billion, a P/E ratio of 13.11 and a beta of 0.93. Wells Fargo & Co. has a 52 week low of $43.55 and a 52 week high of $56.26. The company has a 50 day moving average of $45.63 and a 200-day moving average of $47.72.

Wells Fargo & Co. (NYSE:WFC) last released its earnings results on Friday, October 14th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.02. The firm earned $22.30 billion during the quarter. Wells Fargo & Co. had a return on equity of 12.72% and a net margin of 23.91%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $1.05 earnings per share. Analysts predict that Wells Fargo & Co. will post $4.03 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 4th will be issued a $0.38 dividend. The ex-dividend date is Wednesday, November 2nd. This represents a $1.52 dividend on an annualized basis and a yield of 2.88%. Wells Fargo & Co.’s dividend payout ratio (DPR) is presently 37.44%.

WFC has been the topic of several recent analyst reports. Atlantic Securities cut Wells Fargo & Co. from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $46.15 to $44.00 in a research report on Friday, September 16th. Rafferty Capital Markets cut Wells Fargo & Co. from a “hold” rating to a “sell” rating and set a $44.00 target price on the stock. in a research report on Friday, September 9th. Sandler O’Neill reissued a “hold” rating on shares of Wells Fargo & Co. in a research report on Friday, September 30th. Raymond James Financial Inc. cut Wells Fargo & Co. from a “market perform” rating to an “underperform” rating in a research report on Tuesday, October 4th. Finally, Keefe, Bruyette & Woods set a $57.00 target price on Wells Fargo & Co. and gave the stock a “buy” rating in a research report on Thursday, October 13th. Nine analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the stock. Wells Fargo & Co. has an average rating of “Hold” and an average price target of $49.56.

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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