LS Investment Advisors LLC Has $2.48 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

LS Investment Advisors LLC reduced its stake in Wells Fargo & Company (NYSE:WFC) by 66.8% in the 2nd quarter, Holdings Channel reports. The firm owned 54,694 shares of the financial services provider’s stock after selling 109,982 shares during the period. LS Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $2,477,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in shares of Wells Fargo & Company by 4.7% in the second quarter. Bank of New York Mellon Corp now owns 33,122,185 shares of the financial services provider’s stock valued at $1,500,102,000 after buying an additional 1,497,840 shares during the period. Alerus Financial NA raised its stake in Wells Fargo & Company by 20.7% during the second quarter. Alerus Financial NA now owns 59,660 shares of the financial services provider’s stock worth $2,702,000 after acquiring an additional 10,213 shares in the last quarter. Edmond DE Rothschild Holding S.A. lifted its holdings in Wells Fargo & Company by 32.6% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 474,764 shares of the financial services provider’s stock valued at $21,502,000 after purchasing an additional 116,700 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Wells Fargo & Company by 31.9% in the 2nd quarter. Mackenzie Financial Corp now owns 2,292,004 shares of the financial services provider’s stock worth $103,805,000 after acquiring an additional 554,716 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC grew its holdings in shares of Wells Fargo & Company by 26.4% during the second quarter. Murphy Pohlad Asset Management LLC now owns 16,690 shares of the financial services provider’s stock worth $755,000 after purchasing an additional 3,483 shares during the last quarter. Institutional investors and hedge funds own 70.82% of the company’s stock.

WFC has been the topic of several recent research reports. Barclays raised their target price on shares of Wells Fargo & Company from $46.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday, July 15th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Wells Fargo & Company from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, September 1st. Royal Bank of Canada lifted their target price on shares of Wells Fargo & Company from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 7th. Keefe, Bruyette & Woods started coverage on shares of Wells Fargo & Company in a research note on Wednesday, July 7th. They issued an “outperform” rating and a $57.00 price objective for the company. Finally, UBS Group restated 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 analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $47.52.

Shares of NYSE:WFC traded up $0.12 during midday trading on Tuesday, reaching $45.93. 568,431 shares of the company’s stock were exchanged, compared to its average volume of 30,600,760. The firm’s 50 day simple moving average is $46.46 and its two-hundred day simple moving average is $44.50. The stock has a market cap of $188.61 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 0.99 and a beta of 1.36. Wells Fargo & Company has a fifty-two week low of $20.76 and a fifty-two week high of $51.41. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.83 and a quick ratio of 0.81.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, July 13th. The financial services provider reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.40. Wells Fargo & Company had a return on equity of 9.85% and a net margin of 19.79%. The business had revenue of $20.27 billion for the quarter, compared to the consensus estimate of $17.69 billion. During the same quarter in the prior year, the business posted ($0.66) EPS. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts predict 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 paid a $0.20 dividend. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, August 5th. This represents a $0.80 annualized dividend and a yield of 1.74%. Wells Fargo & Company’s payout ratio is presently 145.45%.

Wells Fargo & Company Profile

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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