Wells Fargo & Company (NYSE:WFC) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in Wells Fargo & Company (NYSE:WFC) by 0.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 790,056 shares of the financial services provider’s stock after selling 5,226 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Wells Fargo & Company were worth $45,792,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Slagle Financial LLC grew its position in Wells Fargo & Company by 97.3% in the fourth quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider’s stock valued at $6,822,000 after acquiring an additional 68,356 shares in the last quarter. Ballentine Partners LLC grew its position in shares of Wells Fargo & Company by 5.4% during the first quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock worth $2,074,000 after buying an additional 1,835 shares in the last quarter. Trust Point Inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $2,499,000. Stonegate Investment Group LLC grew its position in shares of Wells Fargo & Company by 5.2% during the first quarter. Stonegate Investment Group LLC now owns 38,925 shares of the financial services provider’s stock worth $2,256,000 after buying an additional 1,911 shares in the last quarter. Finally, Wedmont Private Capital grew its position in shares of Wells Fargo & Company by 16.4% during the first quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider’s stock worth $8,805,000 after buying an additional 21,496 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC traded up $2.52 during midday trading on Tuesday, reaching $60.25. 25,572,636 shares of the company traded hands, compared to its average volume of 18,548,576. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. The stock has a 50-day moving average price of $59.43 and a 200 day moving average price of $56.00. 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 company has a market cap of $210.03 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.39 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.23%. The business had revenue of $20.69 billion for the quarter, compared to analysts’ expectations of $20.29 billion. During the same period in the previous year, the business earned $1.25 earnings per share. The company’s revenue was up .8% on a year-over-year basis. Sell-side analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is currently 28.75%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Evercore ISI reissued an “outperform” rating and set a $67.00 price target (down previously from $70.00) on shares of Wells Fargo & Company in a research report on Monday. 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 report on Wednesday, May 1st. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Finally, Compass Point restated a “neutral” rating and set a $64.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Thirteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $59.31.

Wells Fargo & Company Profile

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.