Yacktman Asset Management LP reduced its stake in Wells Fargo & Co (NYSE:WFC) by 0.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,983,618 shares of the financial services provider’s stock after selling 6,464 shares during the period. Wells Fargo & Co accounts for about 1.0% of Yacktman Asset Management LP’s investment portfolio, making the stock its 17th largest position. Yacktman Asset Management LP’s holdings in Wells Fargo & Co were worth $110,408,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of WFC. Canada Pension Plan Investment Board raised its position in shares of Wells Fargo & Co by 83.9% in the first quarter. Canada Pension Plan Investment Board now owns 7,972,116 shares of the financial services provider’s stock valued at $443,728,000 after buying an additional 3,637,100 shares during the last quarter. Boston Partners raised its position in shares of Wells Fargo & Co by 50.0% in the first quarter. Boston Partners now owns 7,948,841 shares of the financial services provider’s stock valued at $442,432,000 after buying an additional 2,648,763 shares during the last quarter. First Trust Advisors LP raised its position in shares of Wells Fargo & Co by 76.2% in the first quarter. First Trust Advisors LP now owns 1,581,163 shares of the financial services provider’s stock valued at $88,008,000 after buying an additional 683,830 shares during the last quarter. APG Asset Management N.V. raised its position in shares of Wells Fargo & Co by 10.1% in the first quarter. APG Asset Management N.V. now owns 6,905,782 shares of the financial services provider’s stock valued at $384,376,000 after buying an additional 635,436 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. raised its position in shares of Wells Fargo & Co by 774.6% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 634,208 shares of the financial services provider’s stock valued at $35,301,000 after buying an additional 561,693 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Shares of Wells Fargo & Co (NYSE:WFC) traded up 0.282% during midday trading on Wednesday, reaching $51.565. 2,363,058 shares of the company traded hands. The stock has a 50 day moving average price of $53.60 and a 200 day moving average price of $54.71. The firm has a market capitalization of $255.97 billion, a PE ratio of 12.701 and a beta of 0.95. Wells Fargo & Co has a 1-year low of $43.55 and a 1-year high of $59.99.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.05. Wells Fargo & Co had a return on equity of 12.20% and a net margin of 26.38%. The business had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $22.23 billion. During the same period in the prior year, the business earned $1.01 earnings per share. The business’s revenue was up .2% on a year-over-year basis. Analysts expect that Wells Fargo & Co will post $4.17 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 4th will be given a $0.39 dividend. This is an increase from Wells Fargo & Co’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Wednesday, August 2nd. Wells Fargo & Co’s dividend payout ratio is currently 38.42%.

Wells Fargo & Co declared that its board has approved a stock buyback plan on Wednesday, June 28th that allows the company to repurchase $11.50 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

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WFC has been the topic of several recent analyst reports. Jefferies Group LLC reissued a “hold” rating and set a $62.00 price objective on shares of Wells Fargo & Co in a research report on Monday, May 8th. Berenberg Bank downgraded shares of Wells Fargo & Co from a “hold” rating to a “sell” rating and increased their price objective for the company from $35.00 to $45.00 in a research report on Friday, July 21st. Deutsche Bank AG reissued a “buy” rating on shares of Wells Fargo & Co in a research report on Monday, July 3rd. Vetr downgraded shares of Wells Fargo & Co from a “buy” rating to a “hold” rating and set a $57.21 price objective on the stock. in a research report on Thursday, May 4th. Finally, Keefe, Bruyette & Woods set a $62.00 price objective on shares of Wells Fargo & Co and gave the company a “buy” rating in a research report on Friday, May 19th. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Wells Fargo & Co presently has an average rating of “Hold” and an average price target of $55.83.

In related news, insider Hope A. Hardison sold 20,000 shares of the company’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $52.07, for a total value of $1,041,400.00. Following the completion of the transaction, the insider now directly owns 109 shares in the company, valued at $5,675.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David M. Carroll sold 27,582 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $53.28, for a total value of $1,469,568.96. The disclosure for this sale can be found here. Insiders sold 131,278 shares of company stock worth $6,940,120 over the last 90 days. Company insiders own 0.22% of the company’s stock.

About Wells Fargo & Co

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 & Co (NYSE:WFC)

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