Standard Life Investments LTD Has $906.33 Million Holdings in Wells Fargo & Company (WFC)

Standard Life Investments LTD reduced its stake in Wells Fargo & Company (NYSE:WFC) by 8.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,352,284 shares of the financial services provider’s stock after selling 1,496,545 shares during the period. Wells Fargo & makes up approximately 3.1% of Standard Life Investments LTD’s investment portfolio, making the stock its 2nd biggest position. Standard Life Investments LTD owned about 0.33% of Wells Fargo & worth $906,325,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Alexandria Capital LLC lifted its stake in Wells Fargo & by 0.3% during the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 6 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its stake in Wells Fargo & by 0.3% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 6 shares during the last quarter. Winch Advisory Services LLC lifted its stake in Wells Fargo & by 0.7% during the first quarter. Winch Advisory Services LLC now owns 2,756 shares of the financial services provider’s stock worth $153,000 after purchasing an additional 18 shares during the last quarter. Jackson Grant Investment Advisers Inc. lifted its stake in Wells Fargo & by 0.5% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 4,928 shares of the financial services provider’s stock worth $274,000 after purchasing an additional 24 shares during the last quarter. Finally, Financial Advisory Group lifted its stake in Wells Fargo & by 0.7% during the second quarter. Financial Advisory Group now owns 5,029 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 35 shares during the last quarter. Institutional investors and hedge funds own 75.02% of the company’s stock.

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods set a $61.00 price objective on Wells Fargo & and gave the company a “buy” rating in a report on Friday, August 25th. Instinet restated a “buy” rating and issued a $64.00 price objective on shares of Wells Fargo & in a report on Wednesday, July 12th. Deutsche Bank AG reiterated a “buy” rating on shares of Wells Fargo & in a report on Monday, July 3rd. Royal Bank Of Canada reiterated a “buy” rating and set a $60.00 price target on shares of Wells Fargo & in a report on Friday, July 28th. Finally, Robert W. Baird reiterated a “buy” rating and set a $58.00 price target on shares of Wells Fargo & in a report on Tuesday, September 5th. Six analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Wells Fargo & presently has a consensus rating of “Hold” and a consensus price target of $57.20.

Shares of Wells Fargo & Company (WFC) opened at 55.87 on Friday. Wells Fargo & Company has a 52 week low of $44.49 and a 52 week high of $59.99. The stock’s 50 day moving average is $53.67 and its 200 day moving average is $53.49. The stock has a market cap of $275.32 billion, a price-to-earnings ratio of 14.44 and a beta of 0.97.

Wells Fargo & (NYSE:WFC) last announced its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.20). Wells Fargo & had a net margin of 22.00% and a return on equity of 12.59%. The firm had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $22.30 billion. During the same period in the prior year, the company posted $1.03 EPS. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities analysts forecast that Wells Fargo & Company will post $3.95 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Thursday, November 2nd. Wells Fargo &’s dividend payout ratio is currently 40.31%.

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Wells Fargo & Profile

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.

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

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