Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Wells Fargo & Co (NYSE:WFC) during the second quarter, according to its most recent filing with the SEC. The fund purchased 459,090 shares of the financial services provider’s stock, valued at approximately $25,452,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wrapmanager Inc. purchased a new position in shares of Wells Fargo & Co in the 2nd quarter worth $216,000. Flippin Bruce & Porter Inc. grew its stake in shares of Wells Fargo & Co by 2.4% in the 2nd quarter. Flippin Bruce & Porter Inc. now owns 163,560 shares of the financial services provider’s stock worth $9,068,000 after buying an additional 3,757 shares in the last quarter. KBC Group NV grew its stake in shares of Wells Fargo & Co by 19.9% in the 2nd quarter. KBC Group NV now owns 1,316,396 shares of the financial services provider’s stock worth $72,981,000 after buying an additional 218,281 shares in the last quarter. Barings LLC grew its stake in shares of Wells Fargo & Co by 3.5% in the 2nd quarter. Barings LLC now owns 58,221 shares of the financial services provider’s stock worth $3,228,000 after buying an additional 1,988 shares in the last quarter. Finally, Eos Focused Equity Management L.P. grew its stake in shares of Wells Fargo & Co by 163.8% in the 2nd quarter. Eos Focused Equity Management L.P. now owns 63,615 shares of the financial services provider’s stock worth $3,527,000 after buying an additional 39,498 shares in the last quarter. Institutional investors own 75.77% of the company’s stock.

A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Thursday, July 19th. Susquehanna Bancshares set a $63.00 price objective on shares of Wells Fargo & Co and gave the stock a “hold” rating in a research note on Friday, July 13th. Keefe, Bruyette & Woods raised shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $57.00 to $63.00 in a research note on Sunday, July 15th. They noted that the move was a valuation call. Finally, Morgan Stanley dropped their price objective on shares of Wells Fargo & Co from $62.00 to $61.00 and set an “equal weight” rating for the company in a research note on Monday, July 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $63.34.

WFC stock opened at $59.07 on Wednesday. Wells Fargo & Co has a 12 month low of $49.27 and a 12 month high of $66.31. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.88 and a quick ratio of 0.86. The stock has a market cap of $286.28 billion, a P/E ratio of 14.37, a PEG ratio of 1.59 and a beta of 1.13.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Friday, July 13th. The financial services provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.04). Wells Fargo & Co had a return on equity of 12.38% and a net margin of 22.03%. The firm had revenue of $21.55 billion for the quarter, compared to analysts’ expectations of $21.52 billion. research analysts expect that Wells Fargo & Co will post 4.56 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, September 1st. Investors of record on Friday, August 10th will be paid a dividend of $0.43 per share. The ex-dividend date is Thursday, August 9th. This is a boost from Wells Fargo & Co’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.91%. Wells Fargo & Co’s payout ratio is currently 41.85%.

In related news, EVP Hope A. Hardison sold 25,000 shares of Wells Fargo & Co stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the completion of the transaction, the executive vice president now directly owns 109 shares of the company’s stock, valued at approximately $6,323.09. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Avid Modjtabai sold 100,000 shares of Wells Fargo & Co stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $58.71, for a total transaction of $5,871,000.00. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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