LGT Capital Partners LTD. raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 22.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 302,360 shares of the financial services provider’s stock after acquiring an additional 54,500 shares during the period. Wells Fargo & makes up about 1.7% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 26th largest position. LGT Capital Partners LTD.’s holdings in Wells Fargo & were worth $16,754,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Boston Partners increased its position in Wells Fargo & by 50.0% during the first quarter. Boston Partners now owns 7,948,841 shares of the financial services provider’s stock valued at $442,432,000 after acquiring an additional 2,648,763 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Wells Fargo & by 83.9% during 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 acquiring an additional 3,637,100 shares during the last quarter. Kelman Lazarov Inc. increased its position in Wells Fargo & by 6.0% during the second quarter. Kelman Lazarov Inc. now owns 64,172 shares of the financial services provider’s stock valued at $3,556,000 after acquiring an additional 3,612 shares during the last quarter. Gateway Investment Advisers LLC increased its position in Wells Fargo & by 1.6% during the first quarter. Gateway Investment Advisers LLC now owns 2,698,277 shares of the financial services provider’s stock valued at $150,186,000 after acquiring an additional 41,531 shares during the last quarter. Finally, Dixon Hubard Feinour & Brown Inc. VA increased its position in Wells Fargo & by 25.8% during the second quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 7,307 shares of the financial services provider’s stock valued at $405,000 after acquiring an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 75.19% of the company’s stock.

A number of research analysts have weighed in on WFC shares. Keefe, Bruyette & Woods set a $61.00 price objective on shares of Wells Fargo & and gave the company a “buy” rating in a research report on Friday, August 25th. Zacks Investment Research upgraded shares of Wells Fargo & from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Deutsche Bank AG reiterated a “buy” rating on shares of Wells Fargo & in a research report on Monday, July 3rd. Robert W. Baird reiterated a “buy” rating and set a $58.00 price objective on shares of Wells Fargo & in a research report on Tuesday, September 5th. 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, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $55.77.

Shares of Wells Fargo & Company (WFC) traded down 0.611% during trading on Wednesday, hitting $51.255. 6,489,321 shares of the company traded hands. The stock has a market capitalization of $254.43 billion, a PE ratio of 12.624 and a beta of 0.96. Wells Fargo & Company has a 52-week low of $43.55 and a 52-week high of $59.99. The company has a 50-day moving average of $52.22 and a 200-day moving average of $54.12.

Wells Fargo & (NYSE:WFC) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The company had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.23 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts expect that Wells Fargo & Company will post $4.16 EPS for the current year.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 4th were paid a $0.39 dividend. The ex-dividend date was Wednesday, August 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 3.03%. This is a boost from Wells Fargo &’s previous quarterly dividend of $0.38. Wells Fargo &’s payout ratio is currently 38.42%.

COPYRIGHT VIOLATION NOTICE: This piece of content was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece of content on another website, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The correct version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/09/13/lgt-capital-partners-ltd-has-16-75-million-holdings-in-wells-fargo-company-wfc.html.

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.

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

Receive News & Stock Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related stocks with our FREE daily email newsletter.