Wells Fargo & Company (NYSE:WFC) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. cut its holdings in Wells Fargo & Company (NYSE:WFC) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,435,500 shares of the financial services provider’s stock after selling 27,900 shares during the quarter. Wells Fargo & Company comprises about 0.6% of Mn Services Vermogensbeheer B.V.’s investment portfolio, making the stock its 28th biggest holding. Mn Services Vermogensbeheer B.V.’s holdings in Wells Fargo & Company were worth $85,254,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bank Pictet & Cie Europe AG grew its position in Wells Fargo & Company by 25.7% in the second quarter. Bank Pictet & Cie Europe AG now owns 917,734 shares of the financial services provider’s stock worth $54,504,000 after buying an additional 187,420 shares during the last quarter. Banque Pictet & Cie SA grew its position in Wells Fargo & Company by 1.1% during the 2nd quarter. Banque Pictet & Cie SA now owns 1,303,270 shares of the financial services provider’s stock worth $77,401,000 after purchasing an additional 14,166 shares in the last quarter. First Merchants Corp acquired a new stake in Wells Fargo & Company during the 2nd quarter valued at $1,247,000. Atlantic Union Bankshares Corp lifted its holdings in shares of Wells Fargo & Company by 52.9% in the second quarter. Atlantic Union Bankshares Corp now owns 151,250 shares of the financial services provider’s stock valued at $8,982,000 after purchasing an additional 52,299 shares in the last quarter. Finally, McAdam LLC boosted its position in shares of Wells Fargo & Company by 3.3% in the second quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock worth $333,000 after buying an additional 178 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WFC has been the topic of several recent analyst reports. Morgan Stanley upped their price target on Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Evercore ISI reissued an “outperform” rating and issued a $67.00 price target (down from $70.00) on shares of Wells Fargo & Company in a research report on Monday, July 15th. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and lowered their price objective for the company from $62.00 to $59.00 in a research report on Friday, August 16th. Keefe, Bruyette & Woods cut their target price on shares of 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Thirteen analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and an average price target of $59.63.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded up $0.74 on Friday, reaching $56.70. 17,074,409 shares of the stock were exchanged, compared to its average volume of 18,010,037. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The firm has a fifty day moving average price of $57.55 and a two-hundred day moving average price of $57.41. The stock has a market cap of $197.67 billion, a PE ratio of 11.64, a PEG ratio of 1.40 and a beta of 1.17.

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

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Friday, August 9th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.82%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, August 9th. Wells Fargo & Company’s dividend payout ratio is currently 32.85%.

About Wells Fargo & Company

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.