Parsons Capital Management Inc. RI decreased its stake in Wells Fargo & Company (NYSE:WFC) by 5.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,978 shares of the financial services provider’s stock after selling 2,425 shares during the period. Parsons Capital Management Inc. RI’s holdings in Wells Fargo & were worth $2,392,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in WFC. Alexandria Capital LLC boosted its stake in Wells Fargo & by 0.3% in the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock valued at $102,000 after buying an additional 6 shares during the last quarter. Brick & Kyle Associates boosted its stake in Wells Fargo & by 9.5% in the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after buying an additional 162 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in Wells Fargo & during the first quarter valued at about $124,000. Gradient Investments LLC boosted its stake in Wells Fargo & by 58.6% in the first quarter. Gradient Investments LLC now owns 2,494 shares of the financial services provider’s stock valued at $139,000 after buying an additional 921 shares during the last quarter. Finally, Winch Advisory Services LLC boosted its stake in Wells Fargo & by 0.7% in the first quarter. Winch Advisory Services LLC now owns 2,756 shares of the financial services provider’s stock valued at $153,000 after buying an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 76.05% of the company’s stock.

Shares of Wells Fargo & Company (NYSE WFC) traded up 0.02% during mid-day trading on Monday, hitting $51.69. 4,069,643 shares of the stock traded hands. The stock has a market cap of $256.59 billion, a PE ratio of 12.73 and a beta of 0.95. Wells Fargo & Company has a one year low of $43.55 and a one year high of $59.99. The stock has a 50-day moving average of $54.06 and a 200 day moving average of $54.86. Wells Fargo & also saw unusually large options trading on Friday. Stock investors bought 16,952 call options on the stock. This is an increase of 100% compared to the average volume of 8,468 call options.

Wells Fargo & (NYSE:WFC) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.05. The company had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $22.23 billion. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $1.01 EPS. Equities analysts predict that Wells Fargo & Company will post $4.17 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be given a $0.39 dividend. This is an increase from Wells Fargo &’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a yield of 3.02%. The ex-dividend date is Wednesday, August 2nd. Wells Fargo &’s payout ratio is currently 38.42%.

Wells Fargo & declared that its Board of Directors has approved a stock buyback program on Wednesday, June 28th that allows the company to repurchase $11.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

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Several equities research analysts recently issued reports on the stock. Evercore ISI cut their price objective on shares of Wells Fargo & from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, May 12th. Jefferies Group LLC restated a “hold” rating and set a $62.00 price objective on shares of Wells Fargo & in a research report on Monday, May 8th. Vetr cut shares of Wells Fargo & from a “buy” rating to a “hold” rating and set a $57.21 price objective for the company. in a research report on Thursday, May 4th. Keefe, Bruyette & Woods restated a “buy” rating and set a $62.00 price objective on shares of Wells Fargo & in a research report on Friday, June 23rd. Finally, BidaskClub upgraded shares of Wells Fargo & from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Wells Fargo & currently has an average rating of “Hold” and a consensus price target of $55.87.

In other Wells Fargo & news, insider Michael J. Loughlin sold 20,000 shares of Wells Fargo & stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $52.16, for a total value of $1,043,200.00. Following the transaction, the insider now directly owns 7 shares of the company’s stock, valued at approximately $365.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mary T. Mack sold 38,988 shares of Wells Fargo & stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $52.58, for a total value of $2,049,989.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 131,278 shares of company stock worth $6,940,120. Company insiders own 0.22% of the company’s stock.

About Wells Fargo &

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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

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