Wells Fargo & Co (NYSE:WFC) Shares Bought by Morningstar Investment Services LLC

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Morningstar Investment Services LLC grew its holdings in Wells Fargo & Co (NYSE:WFC) by 1.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,154,999 shares of the financial services provider’s stock after buying an additional 28,235 shares during the quarter. Wells Fargo & Co accounts for 0.9% of Morningstar Investment Services LLC’s investment portfolio, making the stock its 28th largest position. Morningstar Investment Services LLC owned about 0.05% of Wells Fargo & Co worth $55,383,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Capital Asset Advisory Services LLC raised its position in Wells Fargo & Co by 25.0% during the first quarter. Capital Asset Advisory Services LLC now owns 16,233 shares of the financial services provider’s stock worth $374,000 after acquiring an additional 3,245 shares during the period. Colony Group LLC raised its position in shares of Wells Fargo & Co by 3.0% in the first quarter. Colony Group LLC now owns 200,691 shares of the financial services provider’s stock valued at $5,760,000 after buying an additional 5,825 shares during the last quarter. Asahi Life Asset Management CO. LTD. lifted its stake in shares of Wells Fargo & Co by 143.5% in the first quarter. Asahi Life Asset Management CO. LTD. now owns 23,670 shares of the financial services provider’s stock worth $679,000 after buying an additional 13,950 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Wells Fargo & Co in the first quarter worth about $77,000. Finally, Fulton Bank N.A. boosted its position in Wells Fargo & Co by 5.5% during the first quarter. Fulton Bank N.A. now owns 20,099 shares of the financial services provider’s stock worth $576,000 after acquiring an additional 1,052 shares during the last quarter. 72.93% of the stock is owned by institutional investors and hedge funds.

NYSE WFC traded down $0.39 during trading hours on Friday, hitting $24.26. 45,570,805 shares of the company were exchanged, compared to its average volume of 45,648,844. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.45. The firm has a market cap of $101.06 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 36.76 and a beta of 1.15. The company has a 50 day moving average of $26.02 and a two-hundred day moving average of $32.85. Wells Fargo & Co has a 52-week low of $22.00 and a 52-week high of $54.75.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported ($0.66) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.50). Wells Fargo & Co had a return on equity of 4.33% and a net margin of 6.26%. The company had revenue of $17.80 billion for the quarter, compared to analyst estimates of $18.30 billion. During the same period in the prior year, the firm posted $1.30 earnings per share. The business’s quarterly revenue was down 17.5% compared to the same quarter last year. On average, equities research analysts predict that Wells Fargo & Co will post 0.07 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Thursday, August 6th. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 46.58%.

WFC has been the topic of a number of research reports. Atlantic Securities raised shares of Wells Fargo & Co from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $28.00 to $30.00 in a research note on Wednesday, July 22nd. Credit Suisse Group reduced their price objective on Wells Fargo & Co from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 21st. Evercore ISI raised Wells Fargo & Co from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $26.00 to $27.00 in a research note on Wednesday, July 15th. Nomura Securities reaffirmed a “buy” rating and issued a $31.00 target price on shares of Wells Fargo & Co in a research note on Thursday, April 16th. Finally, DA Davidson initiated coverage on shares of Wells Fargo & Co in a research report on Thursday, May 28th. They set a “neutral” rating and a $27.00 price target on the stock. Four analysts have rated the stock with a sell rating, nineteen have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $33.31.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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