Wells Fargo & Company $WFC Shares Sold by Allianz SE

Allianz SE decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,925 shares of the financial services provider’s stock after selling 5,410 shares during the quarter. Allianz SE’s holdings in Wells Fargo & Company were worth $16,579,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in WFC. Access Investment Management LLC acquired a new position in shares of Wells Fargo & Company in the 2nd quarter valued at $25,000. McElhenny Sheffield Capital Management LLC purchased a new stake in Wells Fargo & Company during the 2nd quarter valued at about $27,000. CBIZ Investment Advisory Services LLC raised its stake in shares of Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 322 shares during the last quarter. Accent Capital Management LLC purchased a new position in shares of Wells Fargo & Company in the first quarter worth about $29,000. Finally, Motco lifted its holdings in shares of Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 326 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on WFC. Bank of America increased their price target on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. TD Cowen boosted their target price on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. The Goldman Sachs Group lowered their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Finally, Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Trading Up 0.0%

Shares of Wells Fargo & Company stock opened at $86.21 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $88.64. The firm has a market capitalization of $270.60 billion, a PE ratio of 14.18, a P/E/G ratio of 1.18 and a beta of 1.22. The firm’s 50-day moving average price is $83.53 and its 200 day moving average price is $79.72.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. The company had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.42 EPS. On average, sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, November 7th. Wells Fargo & Company’s payout ratio is presently 29.61%.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.