ProShare Advisors LLC Acquires 7,748 Shares of Wells Fargo & Company (NYSE:WFC)

ProShare Advisors LLC boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 723,733 shares of the financial services provider’s stock after buying an additional 7,748 shares during the quarter. ProShare Advisors LLC’s holdings in Wells Fargo & Company were worth $42,983,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in WFC. Capital World Investors grew its position in shares of Wells Fargo & Company by 1.0% during 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 acquiring an additional 263,176 shares during the period. Sanders Capital LLC increased its position in Wells Fargo & Company by 3.2% in the fourth quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock worth $1,241,231,000 after buying an additional 781,772 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Wells Fargo & Company by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock worth $1,178,591,000 after buying an additional 831,975 shares during the period. California State Teachers Retirement System lifted its position in shares of Wells Fargo & Company by 0.4% during 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 in the last quarter. Finally, 1832 Asset Management L.P. lifted its position in shares of Wells Fargo & Company by 67.1% during 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 in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and decreased their target price for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Evercore ISI decreased their price objective on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, September 6th. The Goldman Sachs Group dropped their target price on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Tuesday, September 3rd. Finally, Morgan Stanley increased their target price on Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $60.29.

Wells Fargo & Company Stock Up 0.9 %

NYSE WFC opened at $56.29 on Monday. The company has a market capitalization of $196.24 billion, a P/E ratio of 11.56, a P/E/G ratio of 1.27 and a beta of 1.16. The stock has a 50 day moving average price of $56.19 and a 200-day moving average price of $57.90. 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 one year low of $38.38 and a one year high of $62.55.

Wells Fargo & Company (NYSE:WFC) last posted its 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. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. During the same period in the previous year, the firm posted $1.25 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities analysts predict that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.84%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date 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.