Mitsubishi UFJ Trust & Banking Corp Sells 302,425 Shares of Wells Fargo & Company (NYSE:WFC)

Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 9.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,035,504 shares of the financial services provider’s stock after selling 302,425 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.07% of Wells Fargo & Company worth $137,862,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of WFC. Price T Rowe Associates Inc. MD grew its position in Wells Fargo & Company by 21.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 128,990,462 shares of the financial services provider’s stock worth $5,039,658,000 after acquiring an additional 22,458,740 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new stake in Wells Fargo & Company during the 2nd quarter worth $239,976,000. Nuveen Asset Management LLC grew its position in Wells Fargo & Company by 28.7% during the 1st quarter. Nuveen Asset Management LLC now owns 18,651,778 shares of the financial services provider’s stock worth $728,724,000 after acquiring an additional 4,164,750 shares during the last quarter. Morgan Stanley grew its position in Wells Fargo & Company by 18.8% during the 1st quarter. Morgan Stanley now owns 22,798,501 shares of the financial services provider’s stock worth $890,737,000 after acquiring an additional 3,614,138 shares during the last quarter. Finally, Brandywine Global Investment Management LLC grew its position in Wells Fargo & Company by 143.3% during the 1st quarter. Brandywine Global Investment Management LLC now owns 6,023,822 shares of the financial services provider’s stock worth $235,351,000 after acquiring an additional 3,547,747 shares during the last quarter. Institutional investors and hedge funds own 70.82% of the company’s stock.

WFC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods initiated coverage on Wells Fargo & Company in a research report on Wednesday, July 7th. They issued an “outperform” rating and a $57.00 price target on the stock. Evercore ISI reiterated a “buy” rating and issued a $49.00 price target on shares of Wells Fargo & Company in a research report on Friday, September 10th. Odeon Capital Group lowered Wells Fargo & Company from a “buy” rating to a “hold” rating in a research report on Monday, July 19th. Bank of America upgraded Wells Fargo & Company from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Friday, June 4th. Finally, UBS Group reiterated a “neutral” rating and issued a $47.00 price target (up previously from $40.00) on shares of Wells Fargo & Company in a research report on Tuesday, May 25th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $47.52.

Wells Fargo & Company stock traded down $1.12 during trading hours on Monday, hitting $45.35. 865,232 shares of the stock traded hands, compared to its average volume of 30,431,506. The firm’s 50-day moving average price is $46.43 and its two-hundred day moving average price is $44.44. Wells Fargo & Company has a one year low of $20.76 and a one year high of $51.41. The company has a market cap of $186.23 billion, a PE ratio of 13.01, a PEG ratio of 0.99 and a beta of 1.36. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, July 13th. The financial services provider reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.40. Wells Fargo & Company had a net margin of 19.79% and a return on equity of 9.85%. The company had revenue of $20.27 billion during the quarter, compared to analyst estimates of $17.69 billion. During the same period in the previous year, the business earned ($0.66) EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, sell-side analysts expect that Wells Fargo & Company will post 4.37 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Friday, August 6th were issued a $0.20 dividend. The ex-dividend date was Thursday, August 5th. This represents a $0.80 annualized dividend and a yield of 1.76%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.10. Wells Fargo & Company’s dividend payout ratio is currently 145.45%.

About Wells Fargo & Company

Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance. It firm operates through the following segments: Community Banking, Wholesale Banking, Wealth & Investment Management, and Other.

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

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