Freemont Management S.A. Boosts Stake in Wells Fargo & Company $WFC

Freemont Management S.A. lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 30.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 37,100 shares of the financial services provider’s stock after acquiring an additional 8,700 shares during the period. Freemont Management S.A.’s holdings in Wells Fargo & Company were worth $2,972,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in WFC. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Wells Fargo & Company by 2,735,254.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after purchasing an additional 949,735,001 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Wells Fargo & Company by 277.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock worth $771,092,000 after buying an additional 7,894,919 shares in the last quarter. Strs Ohio purchased a new stake in Wells Fargo & Company in the first quarter worth approximately $109,643,000. Canada Pension Plan Investment Board grew its position in Wells Fargo & Company by 34.6% during the first quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock valued at $381,016,000 after acquiring an additional 1,365,629 shares during the last quarter. Finally, Phoenix Financial Ltd. raised its stake in shares of Wells Fargo & Company by 437.6% during the second quarter. Phoenix Financial Ltd. now owns 1,312,103 shares of the financial services provider’s stock worth $105,120,000 after acquiring an additional 1,068,040 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.0%

Shares of NYSE:WFC opened at $86.05 on Friday. The stock’s 50-day moving average is $83.25 and its 200 day moving average is $79.27. The company has a market cap of $270.11 billion, a PE ratio of 14.15, a P/E/G ratio of 1.18 and a beta of 1.22. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $88.50.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.11. The business had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $1.42 EPS. Sell-side analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be issued a $0.45 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company’s payout ratio is 29.61%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WFC. UBS Group lowered their price objective on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Evercore ISI lifted their target price on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Keefe, Bruyette & Woods upped their price target on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, October 15th. Cfra Research raised Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Finally, Barclays lifted their price objective on Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average price target of $89.57.

About Wells Fargo & Company

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.