Police & Firemen s Retirement System of New Jersey Has $39.65 Million Stock Position in Wells Fargo & Company $WFC

Police & Firemen s Retirement System of New Jersey increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 3.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 494,861 shares of the financial services provider’s stock after purchasing an additional 15,824 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Wells Fargo & Company were worth $39,648,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Access Investment Management LLC bought a new position in Wells Fargo & Company during the second quarter worth about $25,000. CBIZ Investment Advisory Services LLC increased its stake in Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 322 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in Wells Fargo & Company during the 2nd quarter worth approximately $27,000. Motco lifted its stake in Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after buying an additional 326 shares in the last quarter. Finally, Accent Capital Management LLC acquired a new position in shares of Wells Fargo & Company in the first quarter valued at approximately $29,000. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WFC. Barclays raised their price objective on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Morgan Stanley lifted their price target on Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. UBS Group reduced their price objective on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. The Goldman Sachs Group cut their target price on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Finally, Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company Stock Up 0.0%

NYSE:WFC opened at $86.21 on Thursday. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $88.64. The firm has a market capitalization of $270.60 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. The stock’s 50 day moving average price is $83.53 and its two-hundred day moving average price is $79.72.

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

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.61%.

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.