Wells Fargo & Company $WFC Shares Bought by Shell Asset Management Co.

Shell Asset Management Co. lifted its position in Wells Fargo & Company (NYSE:WFC) by 43.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 46,723 shares of the financial services provider’s stock after acquiring an additional 14,093 shares during the period. Shell Asset Management Co.’s holdings in Wells Fargo & Company were worth $3,743,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Accretive Wealth Partners LLC bought a new position in Wells Fargo & Company during the 1st quarter worth $399,000. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in Wells Fargo & Company by 10.4% during 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 buying an additional 71,740 shares during the last quarter. Secured Retirement Advisors LLC bought a new position in Wells Fargo & Company during the 1st quarter worth $408,000. RKL Wealth Management LLC grew its stake in Wells Fargo & Company by 166.4% during the 1st quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider’s stock worth $588,000 after buying an additional 5,113 shares during the last quarter. Finally, Three Bridge Wealth Advisors LLC bought a new position in Wells Fargo & Company during the 2nd quarter worth $364,000. 75.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on WFC shares. Dbs Bank upgraded Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Evercore ISI boosted their price target on Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Raymond James Financial lowered Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Wells Fargo & Company in a research report on Saturday, September 27th. Eight analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $85.41.

Wells Fargo & Company Stock Up 0.5%

WFC opened at $81.09 on Wednesday. Wells Fargo & Company has a one year low of $57.07 and a one year high of $86.65. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The stock’s fifty day moving average is $80.69 and its 200-day moving average is $76.42. The company has a market capitalization of $259.75 billion, a PE ratio of 13.88, a P/E/G ratio of 1.24 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The company had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter in the previous year, the business earned $1.33 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 30.82%.

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.