Mediolanum International Funds Ltd Has $67.45 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Mediolanum International Funds Ltd raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 17.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 954,103 shares of the financial services provider’s stock after purchasing an additional 142,102 shares during the period. Wells Fargo & Company makes up approximately 0.9% of Mediolanum International Funds Ltd’s investment portfolio, making the stock its 19th biggest position. Mediolanum International Funds Ltd’s holdings in Wells Fargo & Company were worth $67,446,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WFC. Investment Counsel Co. of Nevada acquired a new position in Wells Fargo & Company in the 4th quarter valued at approximately $28,000. BNP Paribas acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $28,000. Parvin Asset Management LLC acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $32,000. Dunhill Financial LLC raised its position in Wells Fargo & Company by 63.7% during the 4th quarter. Dunhill Financial LLC now owns 496 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 193 shares during the last quarter. Finally, Orion Capital Management LLC acquired a new position in Wells Fargo & Company during the 4th quarter worth about $35,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Up 0.4%

WFC opened at $84.25 on Friday. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $84.83. The firm has a market capitalization of $274.15 billion, a PE ratio of 14.43, a P/E/G ratio of 1.30 and a beta of 1.16. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. The company’s 50-day moving average is $77.86 and its 200 day moving average is $74.59.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.41 by $0.13. The firm had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.33 earnings per share. As a group, research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company declared that its board has authorized a stock repurchase program on Tuesday, April 29th that permits the company to buyback $40.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 17.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.60 annualized dividend and a dividend yield of 1.90%. Wells Fargo & Company’s payout ratio is 27.40%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WFC. Barclays decreased their price target on Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. TD Cowen assumed coverage on Wells Fargo & Company in a report on Thursday, May 15th. They issued a “hold” rating and a $83.00 target price on the stock. Phillip Securities downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Raymond James Financial downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 7th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $80.39.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.