Capital Research Global Investors Has $2.99 Billion Stock Holdings in Wells Fargo & Company $WFC

Capital Research Global Investors lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 18.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,660,903 shares of the financial services provider’s stock after purchasing an additional 5,584,930 shares during the quarter. Capital Research Global Investors owned 1.14% of Wells Fargo & Company worth $2,989,104,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in WFC. Capital International Inc. CA increased its holdings in shares of Wells Fargo & Company by 36.9% in the third quarter. Capital International Inc. CA now owns 505,594 shares of the financial services provider’s stock worth $42,379,000 after acquiring an additional 136,396 shares in the last quarter. Legal & General Group Plc grew its position in shares of Wells Fargo & Company by 1.9% in the 3rd quarter. Legal & General Group Plc now owns 21,009,237 shares of the financial services provider’s stock valued at $1,760,994,000 after purchasing an additional 399,088 shares during the period. Fieldview Capital Management LLC grew its position in shares of Wells Fargo & Company by 147.0% in the 3rd quarter. Fieldview Capital Management LLC now owns 25,073 shares of the financial services provider’s stock valued at $2,102,000 after purchasing an additional 14,924 shares during the period. LGT Group Foundation increased its stake in Wells Fargo & Company by 1.6% during the 3rd quarter. LGT Group Foundation now owns 300,897 shares of the financial services provider’s stock worth $24,334,000 after purchasing an additional 4,809 shares in the last quarter. Finally, Fort Sheridan Advisors LLC raised its holdings in Wells Fargo & Company by 3.4% during the 3rd quarter. Fort Sheridan Advisors LLC now owns 24,270 shares of the financial services provider’s stock worth $2,034,000 after buying an additional 800 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on WFC. HSBC reaffirmed a “hold” rating and issued a $74.00 price target on shares of Wells Fargo & Company in a research note on Wednesday, January 7th. Wolfe Research restated an “outperform” rating and set a $109.00 target price on shares of Wells Fargo & Company in a report on Wednesday, January 7th. JPMorgan Chase & Co. upped their target price on Wells Fargo & Company from $99.00 to $99.50 and gave the stock a “neutral” rating in a report on Monday, February 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $100.00 price target on shares of Wells Fargo & Company in a research report on Thursday, January 15th. Finally, TD Cowen dropped their price target on Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday, January 15th. Thirteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Insiders Place Their Bets

In other Wells Fargo & Company news, EVP Kleber Santos sold 25,000 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $87.72, for a total transaction of $2,193,000.00. Following the transaction, the executive vice president owned 79,876 shares in the company, valued at $7,006,722.72. This represents a 23.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ellen R. Patterson sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the completion of the sale, the executive vice president owned 169,496 shares of the company’s stock, valued at approximately $14,813,950.40. The trade was a 26.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 115,000 shares of company stock worth $10,050,000 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

Wells Fargo & Company Trading Down 2.1%

Shares of WFC stock opened at $78.76 on Tuesday. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $97.76. The company has a market capitalization of $243.03 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 0.88 and a beta of 1.08. The firm has a 50 day moving average price of $89.15 and a two-hundred day moving average price of $86.66. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.05.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.10. The business had revenue of $21.29 billion during the quarter, compared to analysts’ expectations of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $1.43 EPS. As a group, analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, March 1st. Shareholders of record on Friday, February 6th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. Wells Fargo & Company’s payout ratio is currently 28.71%.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.