Polianta Ltd Invests $1.12 Million in Wells Fargo & Company (NYSE:WFC)

by · The Markets Daily

Polianta Ltd bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,800 shares of the financial services provider’s stock, valued at approximately $1,118,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in Wells Fargo & Company by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock worth $1,178,591,000 after purchasing an additional 831,975 shares during the period. 1832 Asset Management L.P. lifted its position in shares of Wells Fargo & Company by 67.1% during the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock valued at $339,226,000 after buying an additional 2,349,595 shares in the last quarter. First Pacific Advisors LP grew its stake in shares of Wells Fargo & Company by 2.1% during the 2nd quarter. First Pacific Advisors LP now owns 5,278,666 shares of the financial services provider’s stock valued at $313,500,000 after acquiring an additional 108,480 shares during the period. Canada Pension Plan Investment Board increased its holdings in Wells Fargo & Company by 38.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock worth $297,411,000 after acquiring an additional 1,415,647 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Wells Fargo & Company by 1.0% during the 1st quarter. Russell Investments Group Ltd. now owns 4,662,953 shares of the financial services provider’s stock worth $270,035,000 after acquiring an additional 48,419 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Up 5.6 %

Shares of WFC stock opened at $60.99 on Monday. The company has a market cap of $212.63 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a 1 year low of $38.58 and a 1 year high of $62.55. The stock’s 50 day simple moving average is $55.39 and its two-hundred day simple moving average is $57.79. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC – Get Free Report) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.14. The business had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.39 earnings per share. Research analysts predict that Wells Fargo & Company will post 5.12 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were paid a $0.40 dividend. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.62%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 32.85%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WFC. Keefe, Bruyette & Woods reduced their price objective on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Evercore ISI raised their price target on Wells Fargo & Company from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Tuesday, September 3rd. Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and dropped their price target for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Finally, Morgan Stanley reduced their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday, September 30th. Twelve investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $61.07.

View Our Latest Research Report on Wells Fargo & Company

Wells Fargo & Company Profile

(Free Report)

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.

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