Capital Investment Advisors LLC Purchases 17,121 Shares of Wells Fargo & Co (NYSE:WFC)

Capital Investment Advisors LLC raised its stake in shares of Wells Fargo & Co (NYSE:WFC) by 20.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 100,480 shares of the financial services provider’s stock after purchasing an additional 17,121 shares during the period. Capital Investment Advisors LLC’s holdings in Wells Fargo & Co were worth $5,068,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in WFC. Daily Journal Corp boosted its stake in Wells Fargo & Co by 9,900.0% during the 2nd quarter. Daily Journal Corp now owns 159,180,000 shares of the financial services provider’s stock valued at $75,324,000 after purchasing an additional 157,588,200 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Wells Fargo & Co by 10,041.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 20,960,596 shares of the financial services provider’s stock valued at $991,856,000 after purchasing an additional 20,753,922 shares during the last quarter. AQR Capital Management LLC boosted its stake in Wells Fargo & Co by 216.1% during the 2nd quarter. AQR Capital Management LLC now owns 7,564,725 shares of the financial services provider’s stock valued at $357,963,000 after purchasing an additional 5,171,498 shares during the last quarter. Longview Partners Guernsey LTD boosted its stake in Wells Fargo & Co by 24.2% during the 2nd quarter. Longview Partners Guernsey LTD now owns 26,122,688 shares of the financial services provider’s stock valued at $1,236,126,000 after purchasing an additional 5,090,670 shares during the last quarter. Finally, Primecap Management Co. CA boosted its stake in Wells Fargo & Co by 10.0% during the 2nd quarter. Primecap Management Co. CA now owns 50,564,911 shares of the financial services provider’s stock valued at $2,392,732,000 after purchasing an additional 4,600,225 shares during the last quarter. Institutional investors and hedge funds own 75.25% of the company’s stock.

NYSE:WFC opened at $51.10 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $223.04 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.05 and a beta of 1.11. The firm’s 50 day moving average is $49.14 and its 200 day moving average is $47.24. Wells Fargo & Co has a 12 month low of $43.02 and a 12 month high of $55.04.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.23). Wells Fargo & Co had a net margin of 21.67% and a return on equity of 13.01%. The business had revenue of $22.01 billion for the quarter, compared to the consensus estimate of $21.32 billion. During the same period in the previous year, the firm earned $1.13 EPS. The company’s revenue was up .3% compared to the same quarter last year. Research analysts predict that Wells Fargo & Co will post 4.52 earnings per share for the current year.

Wells Fargo & Co announced that its Board of Directors has initiated a share repurchase plan on Thursday, June 27th that allows the company to buyback $23.10 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 11.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be issued a dividend of $0.51 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.04 dividend on an annualized basis and a yield of 3.99%. Wells Fargo & Co’s payout ratio is 46.58%.

A number of equities analysts have issued reports on WFC shares. ValuEngine upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Tuesday, October 15th. Piper Jaffray Companies set a $46.00 price target on Wells Fargo & Co and gave the company a “hold” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. cut their price target on Wells Fargo & Co from $48.50 to $47.50 and set an “underweight” rating for the company in a research note on Tuesday, July 9th. Wolfe Research downgraded Wells Fargo & Co from a “peer perform” rating to an “underperform” rating in a research note on Wednesday, July 10th. Finally, Morgan Stanley lifted their price target on Wells Fargo & Co from $47.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $49.75.

Wells Fargo & Co 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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