Mutual of America Capital Management LLC Lowers Holdings in Wells Fargo & Company (NYSE:WFC)

Mutual of America Capital Management LLC decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 0.1% in the third quarter, HoldingsChannel reports. The fund owned 567,388 shares of the financial services provider’s stock after selling 647 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Wells Fargo & Company were worth $26,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. lifted its position in shares of Wells Fargo & Company by 1,531.2% in the third quarter. Panagora Asset Management Inc. now owns 921,084 shares of the financial services provider’s stock worth $42,748,000 after buying an additional 864,616 shares in the last quarter. TriaGen Wealth Management LLC purchased a new position in Wells Fargo & Company in the 3rd quarter worth $1,497,000. Marble Harbor Investment Counsel LLC grew its position in shares of Wells Fargo & Company by 4.9% during the 3rd quarter. Marble Harbor Investment Counsel LLC now owns 99,122 shares of the financial services provider’s stock valued at $4,600,000 after acquiring an additional 4,600 shares during the period. Formidable Asset Management LLC lifted its stake in Wells Fargo & Company by 97.5% in the 3rd quarter. Formidable Asset Management LLC now owns 9,205 shares of the financial services provider’s stock valued at $427,000 after buying an additional 4,545 shares in the last quarter. Finally, KBC Group NV lifted its stake in Wells Fargo & Company by 5.7% in the 3rd quarter. KBC Group NV now owns 2,464,119 shares of the financial services provider’s stock worth $114,360,000 after purchasing an additional 132,221 shares in the last quarter. Institutional investors own 69.47% of the company’s stock.

A number of brokerages recently weighed in on WFC. UBS Group initiated coverage on shares of Wells Fargo & Company in a research report on Friday, December 10th. They issued a “buy” rating and a $65.00 price target for the company. Jefferies Financial Group raised their price objective on Wells Fargo & Company from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, October 11th. TheStreet upgraded Wells Fargo & Company from a “c+” rating to a “b-” rating in a research note on Thursday, October 14th. JPMorgan Chase & Co. lifted their price target on Wells Fargo & Company from $53.50 to $57.00 and gave the company a “neutral” rating in a report on Thursday, January 6th. Finally, Barclays raised shares of Wells Fargo & Company from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $50.00 to $62.00 in a research note on Monday, January 3rd. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $52.24.

Shares of WFC traded up $1.90 during mid-day trading on Friday, hitting $57.90. 1,871,202 shares of the company’s stock were exchanged, compared to its average volume of 34,523,203. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $237.76 billion, a P/E ratio of 13.21, a P/E/G ratio of 1.45 and a beta of 1.30. Wells Fargo & Company has a fifty-two week low of $29.68 and a fifty-two week high of $57.18. The business’s 50 day moving average is $50.18 and its two-hundred day moving average is $48.10.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, January 14th. The financial services provider reported $1.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.29. Wells Fargo & Company had a return on equity of 11.20% and a net margin of 23.82%. The firm had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $18.61 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities research analysts forecast that Wells Fargo & Company will post 4.68 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 1st. Stockholders of record on Friday, November 5th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Thursday, November 4th. Wells Fargo & Company’s dividend payout ratio is currently 18.87%.

About Wells Fargo & Company

Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance. It firm operates through the following segments: Community Banking, Wholesale Banking, Wealth & Investment Management, and Other.

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

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