Tredje AP fonden Sells 582,032 Shares of Wells Fargo & Company $WFC

Tredje AP fonden lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 28.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,462,394 shares of the financial services provider’s stock after selling 582,032 shares during the quarter. Wells Fargo & Company comprises approximately 0.9% of Tredje AP fonden’s portfolio, making the stock its 22nd biggest holding. Tredje AP fonden’s holdings in Wells Fargo & Company were worth $117,167,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of WFC. Accretive Wealth Partners LLC bought a new position in shares of Wells Fargo & Company in the first quarter worth $399,000. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in Wells Fargo & Company by 10.4% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock worth $54,471,000 after purchasing an additional 71,740 shares during the period. Secured Retirement Advisors LLC bought a new position in Wells Fargo & Company in the 1st quarter worth about $408,000. Three Bridge Wealth Advisors LLC bought a new position in Wells Fargo & Company in the 2nd quarter worth about $364,000. Finally, Allianz SE boosted its position in shares of Wells Fargo & Company by 22.6% in the first quarter. Allianz SE now owns 212,335 shares of the financial services provider’s stock valued at $15,244,000 after acquiring an additional 39,150 shares during the period. 75.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on WFC shares. Morgan Stanley raised their price objective on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. UBS Group cut their price target on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a report on Wednesday, October 15th. Citigroup lifted their price objective on Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Finally, Phillip Securities lowered Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $87.19 on Friday. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $87.47. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $279.30 billion, a P/E ratio of 14.34, a P/E/G ratio of 1.18 and a beta of 1.25. The company has a fifty day moving average of $82.75 and a 200-day moving average of $78.59.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The company had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. During the same period in the previous year, the firm posted $1.42 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. As a group, equities research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company’s payout ratio is 29.61%.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.