Wells Fargo & Company (NYSE:WFC) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 490,366 shares of the financial services provider’s stock after selling 25,380 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Wells Fargo & Company were worth $29,123,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. 9258 Wealth Management LLC raised its position in Wells Fargo & Company by 4.1% in the fourth quarter. 9258 Wealth Management LLC now owns 12,972 shares of the financial services provider’s stock worth $638,000 after acquiring an additional 516 shares in the last quarter. Gryphon Financial Partners LLC raised its position in Wells Fargo & Company by 93.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 26,467 shares of the financial services provider’s stock worth $1,246,000 after acquiring an additional 12,778 shares in the last quarter. CreativeOne Wealth LLC purchased a new position in Wells Fargo & Company in the fourth quarter worth $232,000. Sand Hill Global Advisors LLC raised its position in Wells Fargo & Company by 9.5% in the fourth quarter. Sand Hill Global Advisors LLC now owns 7,356 shares of the financial services provider’s stock worth $362,000 after acquiring an additional 638 shares in the last quarter. Finally, Frazier Financial Advisors LLC purchased a new position in Wells Fargo & Company in the fourth quarter worth $72,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. BMO Capital Markets raised their price target on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. The Goldman Sachs Group dropped their price target on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and dropped their price target for the company from $62.00 to $59.00 in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods dropped 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 report on Monday, July 15th. Twelve equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and an average price target of $60.29.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $55.80 on Friday. The firm has a market capitalization of $194.54 billion, a P/E ratio of 11.46, a P/E/G ratio of 1.27 and a beta of 1.16. Wells Fargo & Company has a 1-year low of $38.38 and a 1-year high of $62.55. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. The business’s 50-day simple moving average is $56.19 and its 200-day simple moving average is $57.88.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. The business had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 EPS. Equities analysts predict that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were issued a dividend of $0.40 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 32.85%.

Wells Fargo & 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.