Beacon Financial Group increased its stake in shares of Wells Fargo & Co. (NYSE:WFC) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 226,560 shares of the financial services provider’s stock after buying an additional 3,572 shares during the period. Wells Fargo & Co. accounts for 2.1% of Beacon Financial Group’s investment portfolio, making the stock its 9th largest position. Beacon Financial Group’s holdings in Wells Fargo & Co. were worth $10,052,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in WFC. Smith & Howard Wealth Management LLC raised its position 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 worth $279,000 after buying an additional 1,156 shares during the last quarter. Primecap Management Co. CA raised its position 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 worth $894,716,000 after buying an additional 3,149,895 shares during the last quarter. Quadrature Capital Ltd raised its position 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 worth $19,355,000 after buying an additional 183,455 shares during the last quarter. Pacific Global Investment Management CO raised its position 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 worth $1,697,000 after buying an additional 9,868 shares during the last quarter. Finally, Financial Advisory Group raised its position in Wells Fargo & Co. by 0.5% in the first quarter. Financial Advisory Group now owns 4,264 shares of the financial services provider’s stock worth $206,000 after buying an additional 22 shares during the last quarter. 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) traded up 0.63% during trading on Friday, reaching $52.82. 29,673,414 shares of the company’s stock traded hands. Wells Fargo & Co. has a 12 month low of $43.55 and a 12 month high of $56.26. 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 has a 50-day moving average of $45.63 and a 200 day moving average of $47.72.

Wells Fargo & Co. (NYSE:WFC) last announced its quarterly earnings results on Friday, October 14th. The financial services provider reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.02. The business 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 quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 EPS. On average, equities research analysts expect that Wells Fargo & Co. will post $4.03 earnings per share for the current fiscal 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 paid a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $1.52 annualized dividend and a dividend yield of 2.88%. Wells Fargo & Co.’s payout ratio is 37.44%.

WFC has been the topic of a number of recent research reports. Vetr upgraded shares of Wells Fargo & Co. from a “hold” rating to a “buy” rating and set a $50.19 price target on the stock in a research report on Wednesday, July 27th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Wells Fargo & Co. in a research report on Wednesday, August 31st. Zacks Investment Research upgraded shares of Wells Fargo & Co. from a “sell” rating to a “hold” rating in a research report on Monday, September 5th. Rafferty Capital Markets lowered shares of Wells Fargo & Co. from a “hold” rating to a “sell” rating and set a $44.00 target price on the stock. in a report on Friday, September 9th. Finally, Sandler O’Neill reiterated a “hold” rating on shares of Wells Fargo & Co. in a report on Friday, September 9th. Nine investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price 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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