Winslow Asset Management Inc. Raises Holdings in Wells Fargo & Company (NYSE:WFC)

Winslow Asset Management Inc. increased its position in Wells Fargo & Company (NYSE:WFC) by 0.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 94,748 shares of the financial services provider’s stock after purchasing an additional 569 shares during the period. Winslow Asset Management Inc.’s holdings in Wells Fargo & Company were worth $5,352,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Canoe Financial LP acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $160,529,000. Marshall Wace LLP boosted its stake in Wells Fargo & Company by 3,295.6% during the 2nd quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock worth $138,493,000 after purchasing an additional 2,404,898 shares during the period. 1832 Asset Management L.P. grew its position in Wells Fargo & Company by 67.1% during the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock worth $339,226,000 after purchasing an additional 2,349,595 shares during the last quarter. Rokos Capital Management LLP increased its stake in Wells Fargo & Company by 141.6% in the first quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock valued at $151,853,000 after purchasing an additional 1,536,152 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Wells Fargo & Company by 38.1% in the first quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock valued at $297,411,000 after buying an additional 1,415,647 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Wells Fargo & Company

In other news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the sale, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the sale, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $61.99, for a total value of $2,169,650.00. Following the transaction, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $72.60 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a market cap of $241.72 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 1.57 and a beta of 1.14. The company’s 50-day moving average price is $59.87 and its 200 day moving average price is $58.92. Wells Fargo & Company has a 52 week low of $40.53 and a 52 week high of $74.27.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same period last year, the company posted $1.39 EPS. The company’s revenue was down 2.4% on a year-over-year basis. As a group, research analysts forecast that Wells Fargo & Company will post 5.39 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.20%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s payout ratio is 33.26%.

Analyst Ratings Changes

Several brokerages recently issued reports on WFC. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price target for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Tuesday, September 3rd. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group lowered their target price on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Thirteen investment analysts have rated the stock with a hold rating, eight 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 “Hold” and a consensus price target of $62.12.

About Wells Fargo & Company

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.