BI Asset Management Fondsmaeglerselskab A S Has $25.65 Million Stock Position in Wells Fargo & Company $WFC

BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 6.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 306,010 shares of the financial services provider’s stock after purchasing an additional 17,651 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Wells Fargo & Company were worth $25,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Brighton Jones LLC grew its position in Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after acquiring an additional 25,436 shares during the last quarter. Wealthcare Advisory Partners LLC increased its stake in shares of Wells Fargo & Company by 7.7% in the second quarter. Wealthcare Advisory Partners LLC now owns 12,816 shares of the financial services provider’s stock valued at $1,027,000 after buying an additional 912 shares in the last quarter. Shell Asset Management Co. raised its holdings in shares of Wells Fargo & Company by 43.2% in the second quarter. Shell Asset Management Co. now owns 46,723 shares of the financial services provider’s stock valued at $3,743,000 after buying an additional 14,093 shares during the last quarter. Canopy Partners LLC lifted its position in Wells Fargo & Company by 2.1% during the 2nd quarter. Canopy Partners LLC now owns 6,757 shares of the financial services provider’s stock worth $541,000 after buying an additional 138 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in Wells Fargo & Company by 2.5% during the 2nd quarter. Venturi Wealth Management LLC now owns 8,633 shares of the financial services provider’s stock worth $692,000 after acquiring an additional 209 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Wells Fargo & Company in a research note on Thursday, January 15th. Keefe, Bruyette & Woods boosted their price objective on shares of Wells Fargo & Company from $92.00 to $101.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. CICC Research assumed coverage on Wells Fargo & Company in a report on Wednesday, January 14th. They set a “market perform” rating and a $96.00 price objective on the stock. Cfra Research upgraded Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. Finally, TD Cowen cut their price target on Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday, January 15th. Thirteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $95.92.

Wells Fargo & Company Stock Up 0.9%

Shares of NYSE:WFC opened at $93.11 on Thursday. The company has a 50 day moving average price of $91.35 and a two-hundred day moving average price of $85.52. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.84 and a current ratio of 0.90. The company has a market capitalization of $292.28 billion, a PE ratio of 14.85, a PEG ratio of 1.01 and a beta of 1.09. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $97.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.10. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $21.63 billion. During the same period in the prior year, the company earned $1.43 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 6th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $1.80 dividend on an annualized basis and a yield of 1.9%. Wells Fargo & Company’s dividend payout ratio is presently 28.71%.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.