AQR Capital Management LLC Has $59.90 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

AQR Capital Management LLC raised its holdings in Wells Fargo & Company (NYSE:WFC) by 55.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,023,779 shares of the financial services provider’s stock after buying an additional 365,600 shares during the quarter. AQR Capital Management LLC’s holdings in Wells Fargo & Company were worth $59,901,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Core Wealth Advisors Inc. bought a new position in Wells Fargo & Company during the fourth quarter worth $25,000. Transcendent Capital Group LLC acquired a new stake in Wells Fargo & Company in the 4th quarter worth $32,000. Beaird Harris Wealth Management LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter worth about $34,000. Valued Wealth Advisors LLC raised its position in shares of Wells Fargo & Company by 53.7% during the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after buying an additional 220 shares during the last quarter. Finally, J.Safra Asset Management Corp lifted its stake in shares of Wells Fargo & Company by 704.3% in the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after buying an additional 648 shares during the period. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $55.90 on Friday. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. The stock has a market capitalization of $194.89 billion, a PE ratio of 11.48, a PEG ratio of 1.32 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. The stock’s fifty day moving average is $55.74 and its 200-day moving average is $57.81.

Wells Fargo & Company (NYSE:WFC) last issued 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. The firm had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 EPS. Equities research analysts expect that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were paid a dividend of $0.40 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio is 32.85%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on WFC shares. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and lowered their price target for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Evercore ISI cut their target price 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 target on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods dropped their price objective on shares of 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. Finally, The Goldman Sachs Group decreased their target price on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Twelve investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $60.29.

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.