Williams Jones & Associates LLC raised its position in Wells Fargo & Co. (NYSE:WFC) by 19.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 142,310 shares of the financial services provider’s stock after buying an additional 23,267 shares during the period. Williams Jones & Associates LLC’s holdings in Wells Fargo & Co. were worth $6,736,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sun Life Financial INC acquired a new position in shares of Wells Fargo & Co. during the first quarter worth approximately $93,093,000. Global X Management Co. LLC boosted its position 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 during the period. Tradewinds Capital Management LLC boosted its position 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 during the period. Cedar Wealth Management LLC boosted its position 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 during the period. Finally, Gemmer Asset Management LLC boosted its position 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 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% on Friday, hitting $52.82. 29,673,414 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $45.63 and its 200 day moving average is $47.72. Wells Fargo & Co. has a 12 month low of $43.55 and a 12 month high of $56.26. The firm has a market cap of $265.28 billion, a P/E ratio of 13.11 and a beta of 0.93.

Wells Fargo & Co. (NYSE:WFC) last released its quarterly earnings results on Friday, October 14th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $22.30 billion for the quarter. During the same period in the previous year, the business earned $1.05 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts predict that Wells Fargo & Co. will post $4.03 earnings per share for the current year.

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

A number of research firms have recently issued reports on WFC. Citigroup Inc. cut shares of Wells Fargo & Co. to an “underperform” rating in a research note on Friday. Barclays PLC reiterated an “outperform” rating and issued a $56.00 target price (down previously from $58.00) on shares of Wells Fargo & Co. in a research note on Tuesday, October 18th. Vetr cut shares of Wells Fargo & Co. from a “hold” rating to a “sell” rating and set a $45.66 target price for the company. in a research note on Wednesday, November 9th. FBR & Co lowered shares of Wells Fargo & Co. from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $50.00 to $45.00 in a report on Wednesday, October 19th. Finally, Credit Agricole SA reissued an “outperform” rating and issued a $57.00 price target on shares of Wells Fargo & Co. in a report on Tuesday, September 20th. Nine analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price 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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