Tredje AP fonden Acquires 72,000 Shares of Wells Fargo & Company (NYSE:WFC)

Tredje AP fonden increased its holdings in Wells Fargo & Company (NYSE:WFC) by 4.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,536,424 shares of the financial services provider’s stock after acquiring an additional 72,000 shares during the period. Wells Fargo & Company comprises 0.9% of Tredje AP fonden’s investment portfolio, making the stock its 28th biggest holding. Tredje AP fonden’s holdings in Wells Fargo & Company were worth $91,248,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. 1832 Asset Management L.P. boosted its holdings in 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 worth $339,226,000 after acquiring an additional 2,349,595 shares during the last quarter. Morningstar Investment Services LLC boosted its holdings in Wells Fargo & Company by 103.7% during the fourth quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock worth $189,684,000 after purchasing an additional 1,951,477 shares during the last quarter. Rokos Capital Management LLP boosted its holdings in Wells Fargo & Company by 141.6% during the first quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock worth $151,853,000 after purchasing an additional 1,536,152 shares during the last quarter. Mn Services Vermogensbeheer B.V. bought a new stake in Wells Fargo & Company in the 1st quarter worth about $84,819,000. Finally, Canada Pension Plan Investment Board increased its stake in Wells Fargo & Company by 38.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock valued at $297,411,000 after buying an additional 1,415,647 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on WFC shares. Morgan Stanley upped their target price on Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and decreased their target price for the company from $62.00 to $59.00 in a research report on Friday, August 16th. Evercore ISI lowered their target price on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. Deutsche Bank Aktiengesellschaft upgraded shares of 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, BMO Capital Markets lifted their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Twelve analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $60.29.

Wells Fargo & Company Trading Up 1.4 %

Shares of WFC stock opened at $54.54 on Wednesday. The stock has a market capitalization of $190.14 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 1.27 and a beta of 1.16. The company’s fifty day simple moving average is $56.39 and its two-hundred day simple moving average is $57.92. 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.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The company 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 firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 EPS. As a group, analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.93%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio is presently 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.