CANADA LIFE ASSURANCE Co Has $87.27 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

CANADA LIFE ASSURANCE Co lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,504,570 shares of the financial services provider’s stock after selling 39,910 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Wells Fargo & Company were worth $87,272,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of WFC. Arlington Trust Co LLC acquired a new position in Wells Fargo & Company in the 4th quarter worth about $25,000. Core Wealth Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $25,000. Tennessee Valley Asset Management Partners bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $29,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $32,000. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on WFC shares. Evercore ISI reaffirmed an “outperform” rating and set a $67.00 price target (down from $70.00) on shares of Wells Fargo & Company in a research report on Monday, July 15th. Argus lifted their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Compass Point restated a “neutral” rating and set a $64.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Jefferies Financial Group lifted their price objective on Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Finally, StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Thirteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $59.31.

Wells Fargo & Company Stock Down 0.4 %

WFC traded down $0.21 during trading on Wednesday, hitting $59.46. The stock had a trading volume of 10,776,662 shares, compared to its average volume of 18,346,979. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The stock has a 50 day simple moving average of $59.19 and a two-hundred day simple moving average of $56.39. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market capitalization of $207.30 billion, a PE ratio of 12.21, a PEG ratio of 1.45 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, research analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Friday, August 9th will be given a dividend of $0.40 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.69%. The ex-dividend date is Friday, August 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 28.75%.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.