Meag Munich Ergo Kapitalanlagegesellschaft MBH lowered its stake in Wells Fargo & Company (NYSE:WFC) by 79.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 46,802 shares of the financial services provider’s stock after selling 179,041 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Wells Fargo & were worth $2,606,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WFC. Harris Associates L P boosted its position in Wells Fargo & by 1.2% in the first quarter. Harris Associates L P now owns 23,796,125 shares of the financial services provider’s stock valued at $1,324,492,000 after buying an additional 286,710 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Wells Fargo & by 3.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 14,311,805 shares of the financial services provider’s stock valued at $796,596,000 after buying an additional 423,113 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Wells Fargo & by 0.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,415,854 shares of the financial services provider’s stock valued at $746,726,000 after buying an additional 93,236 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Wells Fargo & by 49.5% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 9,713,557 shares of the financial services provider’s stock valued at $540,657,000 after buying an additional 3,214,592 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Wells Fargo & by 1.6% in the first quarter. AQR Capital Management LLC now owns 9,588,696 shares of the financial services provider’s stock valued at $533,707,000 after buying an additional 149,538 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wells Fargo & Company (NYSE WFC) traded down 0.20% during trading on Friday, reaching $50.97. 16,217,688 shares of the company’s stock were exchanged. Wells Fargo & Company has a 12-month low of $43.55 and a 12-month high of $59.99. The company has a market cap of $253.01 billion, a P/E ratio of 12.55 and a beta of 0.96. The stock’s 50-day moving average is $53.02 and its 200-day moving average is $54.52.

Wells Fargo & (NYSE:WFC) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.05. The firm had revenue of $22.20 billion for the quarter, compared to analysts’ expectations of $22.23 billion. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 earnings per share. Analysts predict that Wells Fargo & Company will post $4.17 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 4th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $1.56 annualized dividend and a dividend yield of 3.06%. This is a boost from Wells Fargo &’s previous quarterly dividend of $0.38. Wells Fargo &’s dividend payout ratio (DPR) is presently 38.42%.

Wells Fargo & announced that its board has initiated a stock repurchase plan on Wednesday, June 28th that authorizes the company to buyback $11.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 4.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

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Several analysts have commented on WFC shares. Jefferies Group LLC reaffirmed a “hold” rating and issued a $62.00 price objective on shares of Wells Fargo & in a research report on Monday, May 8th. Berenberg Bank lowered shares of Wells Fargo & from a “hold” rating to a “sell” rating and lifted their price objective for the stock from $35.00 to $45.00 in a research report on Friday, July 21st. Deutsche Bank AG reaffirmed a “buy” rating on shares of Wells Fargo & in a research report on Monday, July 3rd. Keefe, Bruyette & Woods set a $62.00 price objective on shares of Wells Fargo & and gave the stock a “buy” rating in a research report on Friday, May 19th. Finally, Zacks Investment Research lowered shares of Wells Fargo & from a “hold” rating to a “sell” rating in a research report on Monday, June 19th. Six investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $55.83.

In other news, insider David M. Carroll sold 27,582 shares of Wells Fargo & stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $53.28, for a total transaction of $1,469,568.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mary T. Mack sold 38,988 shares of Wells Fargo & stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $52.58, for a total transaction of $2,049,989.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,278 shares of company stock worth $5,896,920. Company insiders own 0.22% of the company’s stock.

Wells Fargo & Company Profile

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.

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

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