Mediolanum International Funds Ltd Takes Position in Wells Fargo & Company (NYSE:WFC)

Mediolanum International Funds Ltd bought a new stake in Wells Fargo & Company (NYSE:WFCFree Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 141,651 shares of the financial services provider’s stock, valued at approximately $8,161,000.

Several other hedge funds and other institutional investors have also made changes to their positions in WFC. Norges Bank purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $2,623,044,000. LSV Asset Management increased its stake in Wells Fargo & Company by 40.4% in the 4th quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider’s stock worth $458,162,000 after buying an additional 2,677,050 shares during the period. Morningstar Investment Services LLC increased its stake in Wells Fargo & Company by 103.7% in the 4th quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock worth $189,684,000 after buying an additional 1,951,477 shares during the period. Nordea Investment Management AB increased its stake in Wells Fargo & Company by 42.7% in the 4th quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock worth $285,668,000 after buying an additional 1,729,132 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in Wells Fargo & Company by 91.5% in the 4th quarter. 1832 Asset Management L.P. now owns 3,503,169 shares of the financial services provider’s stock worth $172,426,000 after buying an additional 1,673,917 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC traded down $0.18 during trading on Wednesday, reaching $59.70. 12,092,711 shares of the company’s stock were exchanged, compared to its average volume of 18,178,027. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market capitalization of $208.13 billion, a P/E ratio of 12.47, a price-to-earnings-growth ratio of 1.45 and a beta of 1.17. The company’s fifty day simple moving average is $59.54 and its 200-day simple moving average is $55.67.

Wells Fargo & Company (NYSE:WFCGet Free Report) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.23 EPS. As a group, research analysts predict that Wells Fargo & Company will post 5.15 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

Analysts Set New Price Targets

Several research firms recently commented on WFC. JPMorgan Chase & Co. raised their price target on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. HSBC raised their price target on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. The Goldman Sachs Group raised their target price on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Finally, Morgan Stanley raised their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Thirteen analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus price target of $59.36.

Check Out Our Latest Stock Report on Wells Fargo & Company

Wells Fargo & Company Profile

(Free Report)

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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

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