Meeder Asset Management Inc. increased its stake in Wells Fargo & Company (NYSE:WFC) by 154.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 94,725 shares of the financial services provider’s stock after acquiring an additional 57,560 shares during the quarter. Meeder Asset Management Inc.’s holdings in Wells Fargo & Company were worth $5,224,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of WFC. Delphi Private Advisors LLC grew its holdings in shares of Wells Fargo & Company by 262.8% during the second quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after buying an additional 1,461 shares in the last quarter. Brick & Kyle Associates grew its holdings in shares of Wells Fargo & Company by 9.5% during 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 in the last quarter. Stelac Advisory Services LLC purchased a new position in shares of Wells Fargo & Company during the second quarter valued at $104,000. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Wells Fargo & Company by 0.3% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock valued at $106,000 after buying an additional 6 shares in the last quarter. Finally, Clear Investment Research LLC purchased a new position in shares of Wells Fargo & Company during the second quarter valued at $121,000. Institutional investors and hedge funds own 75.69% of the company’s stock.

In other Wells Fargo & Company news, insider John R. Shrewsberry sold 70,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.90, for a total value of $3,983,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Richard Levy sold 97,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.47, for a total value of $5,477,590.00. The disclosure for this sale can be found here. Insiders sold 184,482 shares of company stock valued at $10,471,050 in the last ninety days. Insiders own 0.22% of the company’s stock.

Shares of Wells Fargo & Company (NYSE WFC) opened at $60.36 on Wednesday. Wells Fargo & Company has a 12-month low of $49.27 and a 12-month high of $61.27. The firm has a market capitalization of $297,450.00, a PE ratio of 14.46, a price-to-earnings-growth ratio of 1.44 and a beta of 0.96. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). Wells Fargo & Company had a return on equity of 12.59% and a net margin of 22.00%. The company had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.30 billion. During the same period in the prior year, the firm earned $1.03 EPS. Wells Fargo & Company’s quarterly revenue was down 1.8% on a year-over-year basis. sell-side analysts expect that Wells Fargo & Company will post 3.97 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 3rd were given a $0.39 dividend. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.58%. Wells Fargo & Company’s dividend payout ratio is currently 40.31%.

WFC has been the topic of a number of research analyst reports. Vetr upgraded Wells Fargo & Company to a “strong-buy” rating in a report on Thursday, September 7th. Goldman Sachs Group reiterated a “buy” rating on shares of Wells Fargo & Company in a report on Wednesday, October 11th. Royal Bank of Canada reiterated a “buy” rating and set a $60.00 price target on shares of Wells Fargo & Company in a report on Wednesday, November 15th. Robert W. Baird reiterated a “buy” rating and set a $58.00 price target on shares of Wells Fargo & Company in a report on Tuesday, September 5th. Finally, Citigroup reiterated a “buy” rating and set a $65.00 price target (up previously from $60.00) on shares of Wells Fargo & Company in a report on Monday, October 9th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Wells Fargo & Company currently has a consensus rating of “Hold” and an average target price of $57.25.

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About Wells Fargo & Company

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 & Company (NYSE:WFC)

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