Wells Fargo & Co (WFC) Holdings Decreased by Perpetual Ltd

Perpetual Ltd lowered its stake in Wells Fargo & Co (NYSE:WFC) by 63.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 476,541 shares of the financial services provider’s stock after selling 837,676 shares during the quarter. Wells Fargo & Co makes up 3.4% of Perpetual Ltd’s portfolio, making the stock its 6th biggest position. Perpetual Ltd’s holdings in Wells Fargo & Co were worth $25,047,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in Wells Fargo & Co by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 43,088,636 shares of the financial services provider’s stock valued at $2,388,296,000 after acquiring an additional 1,874,789 shares in the last quarter. Magellan Asset Management Ltd lifted its position in Wells Fargo & Co by 0.3% in the 2nd quarter. Magellan Asset Management Ltd now owns 31,103,695 shares of the financial services provider’s stock valued at $1,724,389,000 after acquiring an additional 78,797 shares in the last quarter. Boston Partners lifted its position in Wells Fargo & Co by 12.6% in the 2nd quarter. Boston Partners now owns 21,223,020 shares of the financial services provider’s stock valued at $1,176,604,000 after acquiring an additional 2,372,583 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in Wells Fargo & Co by 2.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 16,910,637 shares of the financial services provider’s stock valued at $937,526,000 after acquiring an additional 372,355 shares in the last quarter. Finally, Sanders Capital LLC bought a new position in Wells Fargo & Co in the 2nd quarter valued at approximately $952,809,000. Institutional investors own 77.59% of the company’s stock.

Several research firms recently issued reports on WFC. Zacks Investment Research cut Wells Fargo & Co from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Macquarie raised Wells Fargo & Co from a “neutral” rating to an “outperform” rating in a research report on Monday, October 15th. ValuEngine cut Wells Fargo & Co from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. Morgan Stanley lowered their price objective on Wells Fargo & Co from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Monday, July 16th. Finally, Citigroup raised Wells Fargo & Co from a “neutral” rating to a “buy” rating in a research report on Friday. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $63.79.

NYSE WFC opened at $53.61 on Friday. The firm has a market cap of $261.50 billion, a PE ratio of 13.04, a PEG ratio of 1.14 and a beta of 1.01. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. Wells Fargo & Co has a 1-year low of $50.02 and a 1-year high of $66.31.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Friday, October 12th. The financial services provider reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.04). The firm had revenue of $21.94 billion for the quarter, compared to the consensus estimate of $21.90 billion. Wells Fargo & Co had a net margin of 23.17% and a return on equity of 12.69%. As a group, analysts forecast that Wells Fargo & Co will post 4.5 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Friday, November 9th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.72 annualized dividend and a dividend yield of 3.21%. Wells Fargo & Co’s payout ratio is 41.85%.

Wells Fargo & Co declared that its board has authorized a stock repurchase plan on Tuesday, October 23rd that permits the company to buyback 350,000,000 outstanding shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In other news, EVP Hope A. Hardison sold 25,000 shares of the stock in a transaction on Monday, August 13th. The stock was sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the transaction, the executive vice president now directly owns 109 shares of the company’s stock, valued at approximately $6,323.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Avid Modjtabai sold 100,000 shares of the stock in a transaction on Friday, August 17th. The shares were sold at an average price of $58.71, for a total value of $5,871,000.00. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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