Todd Asset Management LLC Cuts Holdings in Wells Fargo & Company $WFC

Todd Asset Management LLC decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 18.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 290,680 shares of the financial services provider’s stock after selling 65,106 shares during the period. Todd Asset Management LLC’s holdings in Wells Fargo & Company were worth $24,365,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in Wells Fargo & Company during the second quarter valued at approximately $3,990,551,000. Massachusetts Financial Services Co. MA raised its stake in Wells Fargo & Company by 54.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock valued at $1,332,851,000 after buying an additional 5,894,747 shares during the last quarter. Amundi boosted its holdings in Wells Fargo & Company by 18.2% in the second quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock worth $1,165,868,000 after acquiring an additional 2,180,693 shares in the last quarter. Laurel Wealth Advisors LLC grew its stake in shares of Wells Fargo & Company by 8,010.7% during the second quarter. Laurel Wealth Advisors LLC now owns 1,973,730 shares of the financial services provider’s stock worth $158,135,000 after acquiring an additional 1,949,395 shares during the last quarter. Finally, Mawer Investment Management Ltd. acquired a new position in shares of Wells Fargo & Company during the third quarter valued at about $147,165,000. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Wednesday, January 21st. Robert W. Baird upgraded Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 price target on the stock in a research note on Friday. UBS Group restated a “buy” rating and issued a $113.00 price objective on shares of Wells Fargo & Company in a research note on Wednesday, February 4th. HSBC reaffirmed a “hold” rating and set a $74.00 target price on shares of Wells Fargo & Company in a report on Wednesday, January 7th. Finally, CICC Research assumed coverage on shares of Wells Fargo & Company in a research report on Wednesday, January 14th. They set a “market perform” rating and a $96.00 price target for the company. Thirteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus target price of $97.03.

Wells Fargo & Company Trading Up 0.8%

Shares of NYSE:WFC opened at $86.94 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.84. The business’s 50 day moving average price is $91.80 and its 200-day moving average price is $85.93. The firm has a market capitalization of $272.92 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 0.95 and a beta of 1.09. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $97.76.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.10. The business had revenue of $11.97 billion during the quarter, compared to analyst estimates of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.43 earnings per share. On average, equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 6th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 28.71%.

About Wells Fargo & Company

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.