Teachers Retirement System of The State of Kentucky Acquires 94,700 Shares of Wells Fargo & Co (WFC)

Teachers Retirement System of The State of Kentucky increased its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 10.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 968,435 shares of the financial services provider’s stock after purchasing an additional 94,700 shares during the quarter. Wells Fargo & Co makes up about 0.6% of Teachers Retirement System of The State of Kentucky’s investment portfolio, making the stock its 17th biggest holding. Teachers Retirement System of The State of Kentucky’s holdings in Wells Fargo & Co were worth $53,409,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Boston Partners lifted its stake in Wells Fargo & Co by 140.1% in the second quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock valued at $1,057,700,000 after acquiring an additional 11,139,780 shares during the last quarter. Capital World Investors lifted its stake in Wells Fargo & Co by 10.8% in the second quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock valued at $6,192,259,000 after acquiring an additional 10,927,679 shares during the last quarter. Capital Research Global Investors lifted its stake in Wells Fargo & Co by 19.7% in the second quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock valued at $2,511,614,000 after acquiring an additional 7,445,414 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Wells Fargo & Co by 26.7% in the second quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock valued at $1,653,464,000 after acquiring an additional 6,291,906 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Wells Fargo & Co by 396.3% in the second quarter. Janus Henderson Group PLC now owns 5,894,918 shares of the financial services provider’s stock valued at $326,655,000 after acquiring an additional 4,707,207 shares during the last quarter. Institutional investors and hedge funds own 76.19% of the company’s stock.

In related news, insider John R. Shrewsberry sold 70,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.90, for a total transaction of $3,983,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael J. Loughlin sold 17,482 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $57.80, for a total transaction of $1,010,459.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 184,482 shares of company stock worth $10,471,050. 0.22% of the stock is owned by insiders.

A number of analysts have commented on WFC shares. Vetr cut shares of Wells Fargo & Co from a “strong-buy” rating to a “sell” rating and set a $55.47 price target for the company. in a research note on Monday, January 8th. UBS Group set a $57.00 price target on shares of Wells Fargo & Co and gave the company a “neutral” rating in a research note on Friday, October 6th. Sanford C. Bernstein upgraded shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and increased their price target for the company from $64.00 to $69.00 in a research note on Wednesday, January 3rd. BMO Capital Markets increased their price target on shares of Wells Fargo & Co from $49.00 to $50.00 and gave the company a “market perform” rating in a research note on Monday, October 16th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Wells Fargo & Co in a research note on Tuesday, January 16th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Wells Fargo & Co presently has a consensus rating of “Hold” and an average price target of $61.71.

Wells Fargo & Co (NYSE:WFC) opened at $65.93 on Monday. Wells Fargo & Co has a 1 year low of $49.27 and a 1 year high of $66.04. The company has a market cap of $324,890.00, a PE ratio of 15.96, a P/E/G ratio of 1.71 and a beta of 0.96. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.88 and a current ratio of 0.90.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. The business had revenue of $22.05 billion for the quarter, compared to the consensus estimate of $22.64 billion. During the same period in the prior year, the business posted $0.96 earnings per share. Wells Fargo & Co’s revenue was up 2.2% compared to the same quarter last year. analysts anticipate that Wells Fargo & Co will post 4.74 EPS for the current year.

Wells Fargo & Co declared that its board has approved a share repurchase program on Tuesday, January 23rd that allows the company to buyback 350,000,000 outstanding shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, February 1st. Wells Fargo & Co’s dividend payout ratio is 37.77%.

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About Wells Fargo & Co

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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