Dupont Capital Management Corp trimmed its position in shares of Wells Fargo (NYSE:WFC) by 84.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,092 shares of the financial services provider’s stock after selling 163,405 shares during the period. Dupont Capital Management Corp’s holdings in Wells Fargo were worth $1,577,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in Wells Fargo by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 46,311,774 shares of the financial services provider’s stock valued at $2,803,705,000 after purchasing an additional 584,764 shares during the period. Dimensional Fund Advisors LP boosted its stake in Wells Fargo by 17.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 35,143,414 shares of the financial services provider’s stock valued at $1,937,888,000 after purchasing an additional 5,305,125 shares during the period. Davis Selected Advisers boosted its stake in Wells Fargo by 1.4% during the 3rd quarter. Davis Selected Advisers now owns 26,335,478 shares of the financial services provider’s stock valued at $1,451,064,000 after purchasing an additional 368,667 shares during the period. Magellan Asset Management Ltd boosted its stake in Wells Fargo by 5.1% during the 4th quarter. Magellan Asset Management Ltd now owns 25,007,676 shares of the financial services provider’s stock valued at $1,517,216,000 after purchasing an additional 1,222,262 shares during the period. Finally, Legal & General Group Plc boosted its stake in Wells Fargo by 3.1% during the 3rd quarter. Legal & General Group Plc now owns 23,220,873 shares of the financial services provider’s stock valued at $1,280,531,000 after purchasing an additional 696,233 shares during the period. 76.79% of the stock is owned by hedge funds and other institutional investors.
Get Wells Fargo alerts:Wells Fargo opened at $53.70 on Monday, according to Marketbeat. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.86 and a current ratio of 0.88. Wells Fargo has a 12 month low of $49.27 and a 12 month high of $66.31. The company has a market capitalization of $261.94 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 1.45 and a beta of 1.13.
Wells Fargo (NYSE:WFC) last released its earnings results on Friday, April 13th. The financial services provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.05. Wells Fargo had a net margin of 22.80% and a return on equity of 12.46%. The business had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $21.74 billion. During the same period in the previous year, the firm earned $1.00 EPS. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. research analysts expect that Wells Fargo will post 4.57 EPS for the current fiscal year.
Wells Fargo announced that its board has approved a share repurchase program on Tuesday, January 23rd that allows the company to repurchase 350,000,000 outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Friday, May 4th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, May 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.91%. Wells Fargo’s payout ratio is currently 37.96%.
A number of analysts have commented on WFC shares. Morgan Stanley boosted their price target on shares of Wells Fargo from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Keefe, Bruyette & Woods downgraded shares of Wells Fargo from an “outperform” rating to a “market perform” rating and set a $63.00 price target on the stock. in a research report on Sunday, February 4th. BMO Capital Markets restated a “hold” rating and set a $60.00 price target on shares of Wells Fargo in a research report on Monday, February 5th. Citigroup downgraded shares of Wells Fargo from a “buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a research report on Monday, February 5th. Finally, Royal Bank of Canada downgraded shares of Wells Fargo from an “outperform” rating to an “underperform” rating in a research report on Monday, February 5th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company. Wells Fargo presently has an average rating of “Hold” and an average target price of $61.83.
About Wells Fargo
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.
Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo (NYSE:WFC).
No comments:
Post a Comment