Bright Rock Capital Management LLC increased its position in Wells Fargo & Co. (NYSE:WFC) by 0.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 179,000 shares of the financial services provider’s stock after buying an additional 815 shares during the period. Wells Fargo & Co. makes up approximately 2.5% of Bright Rock Capital Management LLC’s portfolio, making the stock its 3rd largest position. Bright Rock Capital Management LLC’s holdings in Wells Fargo & Co. were worth $7,926,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Global X Management Co. LLC boosted 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 boosted 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 boosted 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 boosted 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 bought a new stake in Wells Fargo & Co. during the second quarter worth approximately $186,000. 72.76% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Wells Fargo & Co. (NYSE:WFC) traded up 2.12% during midday trading on Wednesday, reaching $52.96. The company’s stock had a trading volume of 14,139,007 shares. The company has a market capitalization of $265.98 billion, a P/E ratio of 13.14 and a beta of 0.93. The stock’s 50-day moving average is $47.82 and its 200-day moving average is $47.86. Wells Fargo & Co. has a one year low of $43.55 and a one year high of $56.24.

Wells Fargo & Co. (NYSE:WFC) last announced its earnings results on Friday, October 14th. The financial services provider reported $1.03 EPS for the quarter, beating 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 in the previous year, the company earned $1.05 EPS. Wells Fargo & Co.’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts expect that Wells Fargo & Co. will post $4.03 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 4th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.93%. Wells Fargo & Co.’s payout ratio is currently 37.44%.

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WFC has been the topic of a number of research analyst reports. Vetr raised Wells Fargo & Co. from a “strong sell” rating to a “sell” rating and set a $46.56 price target on the stock in a report on Monday. Barclays PLC reaffirmed an “outperform” rating and set a $56.00 price target (down from $58.00) on shares of Wells Fargo & Co. in a report on Tuesday, October 18th. FBR & Co downgraded 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. reaffirmed an “outperform” rating and set a $57.00 price target on shares of Wells Fargo & Co. in a report on Tuesday, September 20th. Finally, Piper Jaffray Cos. reaffirmed an “underweight” rating and set a $43.00 price target on shares of Wells Fargo & Co. in a report on Thursday, October 13th. Nine equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Wells Fargo & Co. has an average rating of “Hold” and an average price target of $49.57.

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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