Meiji Yasuda Asset Management Co Ltd. Has $4.71 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Meiji Yasuda Asset Management Co Ltd. reduced its position in Wells Fargo & Company (NYSE:WFC) by 4.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 79,371 shares of the financial services provider’s stock after selling 3,617 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Wells Fargo & Company were worth $4,714,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital World Investors increased its stake in shares of Wells Fargo & Company by 1.0% in the 4th quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock valued at $1,295,459,000 after buying an additional 263,176 shares during the period. Sanders Capital LLC increased its stake in shares of Wells Fargo & Company by 3.2% in the 4th quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock valued at $1,241,231,000 after buying an additional 781,772 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Wells Fargo & Company by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock valued at $1,178,591,000 after buying an additional 831,975 shares during the period. California State Teachers Retirement System increased its stake in shares of Wells Fargo & Company by 0.4% in the 4th quarter. California State Teachers Retirement System now owns 5,905,934 shares of the financial services provider’s stock valued at $290,690,000 after buying an additional 25,896 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in shares of Wells Fargo & Company by 67.1% in the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock valued at $339,226,000 after buying an additional 2,349,595 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. BMO Capital Markets lifted their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. The Goldman Sachs Group decreased their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Evercore ISI decreased their price objective on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. Morgan Stanley lifted their price objective on Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods decreased their price objective on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Twelve analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus price target of $60.29.

Wells Fargo & Company Stock Performance

WFC opened at $54.26 on Thursday. The business’s 50-day simple moving average is $56.28 and its 200 day simple moving average is $57.89. The firm has a market capitalization of $189.17 billion, a PE ratio of 11.14, a PEG ratio of 1.27 and a beta of 1.16. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 earnings per share. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is 32.85%.

Wells Fargo & Company Company Profile

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