Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Wells Fargo & Co. (NYSE:WFC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 186,546 shares of the financial services provider’s stock, valued at approximately $8,829,000. Wells Fargo & Co. accounts for approximately 1.2% of Kentucky Retirement Systems Insurance Trust Fund’s portfolio, making the stock its 13th largest position.

Other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC boosted its stake in Wells Fargo & Co. by 10.3% in the first quarter. Lazard Asset Management LLC now owns 6,564,216 shares of the financial services provider’s stock valued at $317,445,000 after buying an additional 611,374 shares during the period. Smith & Howard Wealth Management LLC boosted its stake in Wells Fargo & Co. by 25.1% in the first quarter. Smith & Howard Wealth Management LLC now owns 5,766 shares of the financial services provider’s stock valued at $279,000 after buying an additional 1,156 shares during the period. Primecap Management Co. CA boosted its stake in Wells Fargo & Co. by 20.5% in the first quarter. Primecap Management Co. CA now owns 18,501,167 shares of the financial services provider’s stock valued at $894,716,000 after buying an additional 3,149,895 shares during the period. Quadrature Capital Ltd boosted its stake in Wells Fargo & Co. by 84.6% in the first quarter. Quadrature Capital Ltd now owns 400,306 shares of the financial services provider’s stock valued at $19,355,000 after buying an additional 183,455 shares during the period. Finally, Pacific Global Investment Management CO boosted its stake in Wells Fargo & Co. by 39.1% in the first quarter. Pacific Global Investment Management CO now owns 35,088 shares of the financial services provider’s stock valued at $1,697,000 after buying an additional 9,868 shares during the period. Hedge funds and other institutional investors own 73.78% of the company’s stock.

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

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

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

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 4th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Wednesday, November 2nd. Wells Fargo & Co.’s payout ratio is 37.44%.

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

Wells Fargo & Co. Company Profile

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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