National Investment Services Inc. WI lifted its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 42.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,832 shares of the financial services provider’s stock after purchasing an additional 16,278 shares during the quarter. Wells Fargo & Co comprises about 3.2% of National Investment Services Inc. WI’s investment portfolio, making the stock its 3rd biggest position. National Investment Services Inc. WI’s holdings in Wells Fargo & Co were worth $3,327,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Wells Fargo & Co by 1.2% in the second quarter. Vanguard Group Inc. now owns 314,755,460 shares of the financial services provider’s stock valued at $17,440,601,000 after acquiring an additional 3,621,402 shares during the last quarter. Capital World Investors boosted its holdings 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 boosted its holdings 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 boosted its holdings in Wells Fargo & Co by 17.8% in the third quarter. Dimensional Fund Advisors LP now owns 35,143,414 shares of the financial services provider’s stock valued at $1,937,888,000 after acquiring an additional 5,305,125 shares during the last quarter. Finally, Davis Selected Advisers boosted its holdings in Wells Fargo & Co by 1.4% in the third quarter. Davis Selected Advisers now owns 26,335,478 shares of the financial services provider’s stock valued at $1,451,064,000 after acquiring an additional 368,667 shares during the last quarter. Institutional investors and hedge funds own 75.69% of the company’s stock.
In other Wells Fargo & Co news, Director Ronald Sargent bought 9,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were acquired at an average cost of $55.98 per share, with a total value of $503,820.00. Following the completion of the transaction, the director now owns 81 shares in the company, valued at $4,534.38. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Richard Levy sold 97,000 shares of Wells Fargo & Co stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.47, for a total value of $5,477,590.00. 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. Corporate insiders own 0.22% of the company’s stock.
A number of brokerages recently weighed in on WFC. Morgan Stanley cut Wells Fargo & Co from an “overweight” rating to an “underweight” rating and reduced their target price for the company from $75.00 to $64.00 in a report on Tuesday, February 6th. Zacks Investment Research cut Wells Fargo & Co from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. UBS Group set a $63.00 target price on Wells Fargo & Co and gave the company a “hold” rating in a report on Monday, February 5th. Atlantic Securities upgraded Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 target price on the stock in a report on Wednesday, January 10th. Finally, Royal Bank of Canada cut Wells Fargo & Co from an “outperform” rating to an “underperform” rating in a report on Monday, February 5th. Six equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Wells Fargo & Co currently has an average rating of “Hold” and an average target price of $62.90.
Wells Fargo & Co (WFC) opened at $59.73 on Thursday. The company has a market capitalization of $294,130.00, a PE ratio of 17.31, a price-to-earnings-growth ratio of 1.57 and a beta of 1.01. Wells Fargo & Co has a one year low of $49.27 and a one year high of $66.31. 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 issued its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $22.05 billion for the quarter, compared to analyst estimates of $22.64 billion. During the same quarter in the prior year, the firm earned $0.96 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. sell-side analysts expect that Wells Fargo & Co will post 4.72 EPS for the current year.
Wells Fargo & Co announced that its Board of Directors has initiated a share buyback 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 purchase 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 announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders 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 dividend yield of 2.61%. The ex-dividend date of this dividend is Thursday, February 1st. Wells Fargo & Co’s payout ratio is 45.22%.
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Wells Fargo & Co 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.
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