Achmea Investment Management B.V. Has $20.15 Million Stock Holdings in Wells Fargo & Company $WFC

Achmea Investment Management B.V. reduced its stake in Wells Fargo & Company (NYSE:WFC) by 16.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 251,488 shares of the financial services provider’s stock after selling 49,356 shares during the quarter. Achmea Investment Management B.V.’s holdings in Wells Fargo & Company were worth $20,149,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Wells Fargo & Company by 2,735,254.3% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after purchasing an additional 949,735,001 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Wells Fargo & Company by 277.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock worth $771,092,000 after buying an additional 7,894,919 shares during the last quarter. Strs Ohio bought a new position in shares of Wells Fargo & Company in the 1st quarter valued at about $109,643,000. Canada Pension Plan Investment Board increased its position in shares of Wells Fargo & Company by 34.6% in the first quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock valued at $381,016,000 after acquiring an additional 1,365,629 shares during the last quarter. Finally, Phoenix Financial Ltd. increased its position in shares of Wells Fargo & Company by 437.6% in the second quarter. Phoenix Financial Ltd. now owns 1,312,103 shares of the financial services provider’s stock valued at $105,120,000 after acquiring an additional 1,068,040 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $86.96 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $88.50. The firm’s fifty day simple moving average is $83.09 and its two-hundred day simple moving average is $79.06. The stock has a market capitalization of $278.57 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 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 business had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. During the same period last year, the company posted $1.42 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given 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 dividend yield of 2.1%. Wells Fargo & Company’s payout ratio is presently 29.61%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, October 15th. The Goldman Sachs Group reduced their price target on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Barclays raised their target price on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Phillip Securities downgraded Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Finally, Keefe, Bruyette & Woods raised their price target on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.57.

About Wells Fargo & Company

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.