AIA Group Ltd Has $726,000 Stake in Wells Fargo & Company (NYSE:WFC)

AIA Group Ltd trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 38.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,061 shares of the financial services provider’s stock after selling 11,130 shares during the period. AIA Group Ltd’s holdings in Wells Fargo & Company were worth $726,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Empirical Finance LLC lifted its position in shares of Wells Fargo & Company by 18.2% during the third quarter. Empirical Finance LLC now owns 97,211 shares of the financial services provider’s stock worth $3,910,000 after purchasing an additional 14,949 shares in the last quarter. Glenview Trust Co lifted its position in shares of Wells Fargo & Company by 1,973.7% during the third quarter. Glenview Trust Co now owns 198,204 shares of the financial services provider’s stock worth $7,972,000 after purchasing an additional 188,646 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Wells Fargo & Company by 2.3% during the third quarter. Retirement Systems of Alabama now owns 3,099,460 shares of the financial services provider’s stock worth $124,660,000 after purchasing an additional 69,814 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Wells Fargo & Company by 15.8% during the third quarter. Empowered Funds LLC now owns 25,165 shares of the financial services provider’s stock worth $1,012,000 after buying an additional 3,430 shares during the last quarter. Finally, Nicholas Hoffman & Company LLC. raised its stake in shares of Wells Fargo & Company by 4.7% during the third quarter. Nicholas Hoffman & Company LLC. now owns 31,132 shares of the financial services provider’s stock worth $1,252,000 after buying an additional 1,388 shares during the last quarter. 72.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on WFC. Jefferies Financial Group downgraded shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and dropped their price target for the stock from $49.00 to $46.00 in a research note on Tuesday, January 17th. Morgan Stanley dropped their price target on shares of Wells Fargo & Company from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, December 15th. StockNews.com began coverage on shares of Wells Fargo & Company in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Wells Fargo & Company from $60.00 to $50.00 in a research note on Friday, January 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of Wells Fargo & Company from $46.50 to $49.50 in a research note on Wednesday, November 2nd. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $52.62.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $44.45 on Wednesday. Wells Fargo & Company has a 12 month low of $36.54 and a 12 month high of $60.30. The firm has a fifty day simple moving average of $43.60 and a 200 day simple moving average of $43.69. The stock has a market capitalization of $169.38 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.91 and a beta of 1.18. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.08.

Wells Fargo & Company (NYSE:WFCGet Rating) last announced its earnings results on Friday, January 13th. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. Wells Fargo & Company had a net margin of 15.91% and a return on equity of 9.28%. The business had revenue of $19.66 billion during the quarter, compared to analysts’ expectations of $20.04 billion. During the same quarter in the prior year, the company posted $1.38 earnings per share. The firm’s revenue was down 5.7% on a year-over-year basis. Research analysts forecast that Wells Fargo & Company will post 4.86 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Friday, February 3rd will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.70%. Wells Fargo & Company’s dividend payout ratio is currently 38.22%.

About Wells Fargo & Company

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Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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

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