Yacktman Asset Management LP Trims Holdings in Wells Fargo & Company (NYSE:WFC)

Yacktman Asset Management LP reduced its position in Wells Fargo & Company (NYSE:WFC) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,973,805 shares of the financial services provider’s stock after selling 9,813 shares during the quarter. Wells Fargo & makes up 1.1% of Yacktman Asset Management LP’s portfolio, making the stock its 16th largest holding. Yacktman Asset Management LP’s holdings in Wells Fargo & were worth $109,369,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brick & Kyle Associates increased its position in Wells Fargo & by 9.5% in the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 162 shares during the period. Stelac Advisory Services LLC bought a new stake in shares of Wells Fargo & during the 2nd quarter worth approximately $104,000. Delphi Private Advisors LLC raised its stake in shares of Wells Fargo & by 262.8% during the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 1,461 shares in the last quarter. Clear Investment Research LLC bought a new stake in shares of Wells Fargo & during the 2nd quarter worth approximately $121,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in shares of Wells Fargo & during the 1st quarter worth approximately $124,000. 75.86% of the stock is owned by institutional investors.

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WFC has been the topic of a number of recent analyst reports. raised Wells Fargo & to a “strong-buy” rating in a report on Thursday, September 7th. downgraded Wells Fargo & from a “hold” rating to a “sell” rating and upped their target price for the company from $35.00 to $45.00 in a research report on Friday, July 21st. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Wells Fargo & in a research report on Wednesday, October 11th. restated a “buy” rating on shares of Wells Fargo & in a research report on Wednesday, August 16th. Finally, reiterated a “buy” rating and issued a $58.00 target price on shares of Wells Fargo & in a research report on Tuesday, September 5th. Six investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $57.20.

Wells Fargo & Company (NYSE WFC) opened at $54.04 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. Wells Fargo & Company has a fifty-two week low of $49.27 and a fifty-two week high of $59.99. The company has a market cap of $264,531.28, a P/E ratio of 12.98, a PEG ratio of 1.29 and a beta of 0.97.

Wells Fargo & (NYSE:WFC) last issued its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.20). The company had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & had a return on equity of 12.59% and a net margin of 22.00%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 earnings per share. research analysts anticipate that Wells Fargo & Company will post 3.97 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 3rd will be issued a dividend of $0.39 per share. The ex-dividend date is Thursday, November 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 2.89%. Wells Fargo &’s dividend payout ratio (DPR) is presently 40.31%.

About Wells Fargo &

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.

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

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