Vinva Investment Management Ltd Acquires 44,267 Shares of Wells Fargo & Company $WFC

Vinva Investment Management Ltd lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 22.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 240,565 shares of the financial services provider’s stock after purchasing an additional 44,267 shares during the quarter. Vinva Investment Management Ltd’s holdings in Wells Fargo & Company were worth $20,364,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in shares of Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after buying an additional 25,436 shares in the last quarter. Ethos Financial Group LLC grew its position in Wells Fargo & Company by 8.7% in the second quarter. Ethos Financial Group LLC now owns 3,098 shares of the financial services provider’s stock worth $248,000 after acquiring an additional 247 shares in the last quarter. Modera Wealth Management LLC increased its stake in Wells Fargo & Company by 3.4% in the second quarter. Modera Wealth Management LLC now owns 21,825 shares of the financial services provider’s stock valued at $1,749,000 after acquiring an additional 715 shares during the last quarter. Texas Yale Capital Corp. bought a new position in Wells Fargo & Company in the second quarter valued at $207,000. Finally, Savant Capital LLC raised its position in Wells Fargo & Company by 3.0% during the second quarter. Savant Capital LLC now owns 103,466 shares of the financial services provider’s stock valued at $8,290,000 after purchasing an additional 2,990 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Down 2.0%

Shares of Wells Fargo & Company stock opened at $80.44 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.90 and a current ratio of 0.90. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $97.76. The company’s 50 day moving average price is $89.46 and its 200-day moving average price is $86.60. The stock has a market capitalization of $248.21 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 0.88 and a beta of 1.08.

Wells Fargo & Company (NYSE:WFCGet Free Report) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.10. The business had revenue of $21.29 billion during the quarter, compared to analysts’ expectations of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.43 EPS. Equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Friday, February 6th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, February 6th. Wells Fargo & Company’s dividend payout ratio is 28.71%.

Analysts Set New Price Targets

Several brokerages have issued reports on WFC. Argus lifted their price target on Wells Fargo & Company from $94.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. CICC Research assumed coverage on Wells Fargo & Company in a research report on Wednesday, January 14th. They set a “market perform” rating and a $96.00 price objective on the stock. Freedom Capital downgraded Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods increased their price target on shares of Wells Fargo & Company from $92.00 to $101.00 and gave the company a “market perform” rating in a research report on Wednesday, December 17th. Thirteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and an average target price of $97.03.

Get Our Latest Report on WFC

More Wells Fargo & Company News

Here are the key news stories impacting Wells Fargo & Company this week:

Insider Transactions at Wells Fargo & Company

In other news, EVP Ellen R. Patterson sold 60,000 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the completion of the sale, the executive vice president directly owned 169,496 shares in the company, valued at approximately $14,813,950.40. This represents a 26.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kleber Santos sold 25,000 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $87.72, for a total value of $2,193,000.00. Following the completion of the sale, the executive vice president directly owned 79,876 shares in the company, valued at $7,006,722.72. The trade was a 23.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 115,000 shares of company stock worth $10,050,000. Company insiders own 0.08% of the company’s stock.

Wells Fargo & Company Profile

(Free Report)

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

Read More

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFCFree Report).

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

Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.