Wells Fargo & Co (WFC) Shares Sold by Northeast Investment Management

Northeast Investment Management trimmed its holdings in Wells Fargo & Co (NYSE:WFC) by 7.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 162,973 shares of the financial services provider’s stock after selling 12,535 shares during the period. Northeast Investment Management’s holdings in Wells Fargo & Co were worth $8,988,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of WFC. Boston Partners lifted its stake in shares of Wells Fargo & Co by 140.1% in the 2nd quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock valued at $1,057,700,000 after purchasing an additional 11,139,780 shares in the last quarter. Capital World Investors lifted its stake in shares of Wells Fargo & Co by 10.8% in the 2nd quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock valued at $6,192,259,000 after purchasing an additional 10,927,679 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Wells Fargo & Co by 19.7% in the 2nd quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock valued at $2,511,614,000 after purchasing an additional 7,445,414 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Wells Fargo & Co by 26.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock valued at $1,653,464,000 after purchasing an additional 6,291,906 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Wells Fargo & Co by 396.3% in the 2nd quarter. Janus Henderson Group PLC now owns 5,894,918 shares of the financial services provider’s stock valued at $326,655,000 after purchasing an additional 4,707,207 shares in the last quarter. 76.20% of the stock is currently owned by hedge funds and other institutional investors.

WFC has been the topic of several analyst reports. Goldman Sachs Group reiterated a “buy” rating on shares of Wells Fargo & Co in a report on Wednesday, October 11th. Zacks Investment Research upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. Vetr upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $52.91 target price on the stock in a report on Monday, October 16th. Piper Jaffray Companies set a $50.00 target price on Wells Fargo & Co and gave the company a “hold” rating in a report on Sunday, October 15th. Finally, BMO Capital Markets raised their target price on Wells Fargo & Co from $49.00 to $50.00 and gave the company a “market perform” rating in a report on Monday, October 16th. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $76.81.

Wells Fargo & Co (NYSE:WFC) opened at $57.54 on Thursday. The company has a market capitalization of $283,340.00, a P/E ratio of 13.93, a PEG ratio of 1.53 and a beta of 1.01. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.90 and a quick ratio of 0.88. Wells Fargo & Co has a 12-month low of $49.27 and a 12-month high of $66.31.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.07). The firm had revenue of $22.05 billion during the quarter, compared to analyst estimates of $22.64 billion. Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. Wells Fargo & Co’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.96 EPS. research analysts expect that Wells Fargo & Co will post 4.7 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd will be given a $0.39 dividend. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $1.56 annualized dividend and a dividend yield of 2.71%. Wells Fargo & Co’s payout ratio is 37.77%.

Wells Fargo & Co declared that its Board of Directors has approved a stock repurchase program on Tuesday, January 23rd that permits the company to repurchase 350,000,000 shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

In other news, insider John R. Shrewsberry sold 70,000 shares of Wells Fargo & Co stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.90, for a total value of $3,983,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richard Levy sold 97,000 shares of Wells Fargo & Co stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total value of $5,477,590.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,482 shares of company stock valued at $10,471,050. Insiders own 0.22% of the company’s stock.

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About Wells Fargo & Co

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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