Wells Fargo & Co (WFC) Stake Lessened by Clarius Group LLC

Clarius Group LLC decreased its stake in Wells Fargo & Co (NYSE:WFC) by 48.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,924 shares of the financial services provider’s stock after selling 5,500 shares during the quarter. Clarius Group LLC’s holdings in Wells Fargo & Co were worth $327,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Wells Fargo & Co by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 314,755,460 shares of the financial services provider’s stock valued at $17,440,601,000 after buying an additional 3,621,402 shares during the last quarter. Capital World Investors grew its stake in Wells Fargo & Co by 10.8% in the second quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock valued at $6,192,259,000 after purchasing an additional 10,927,679 shares in the last quarter. Capital Research Global Investors grew its stake in Wells Fargo & Co by 19.7% in the second quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock valued at $2,511,614,000 after purchasing an additional 7,445,414 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Wells Fargo & Co by 26.7% in the second quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock valued at $1,653,464,000 after purchasing an additional 6,291,906 shares in the last quarter. Finally, Davis Selected Advisers grew its stake in Wells Fargo & Co by 1.9% in the second quarter. Davis Selected Advisers now owns 25,966,811 shares of the financial services provider’s stock valued at $1,438,821,000 after purchasing an additional 472,585 shares in the last quarter. 76.19% of the stock is currently owned by hedge funds and other institutional investors.

In other Wells Fargo & Co news, VP Richard Levy sold 97,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.47, for a total value of $5,477,590.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael J. Loughlin sold 17,482 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $57.80, for a total value of $1,010,459.60. The disclosure for this sale can be found here. Insiders sold a total of 184,482 shares of company stock worth $10,471,050 in the last quarter. Corporate insiders own 0.22% of the company’s stock.

Wells Fargo & Co (WFC) opened at $65.93 on Friday. The company has a market capitalization of $324,890.00, a price-to-earnings ratio of 15.96, a PEG ratio of 1.71 and a beta of 0.96. Wells Fargo & Co has a fifty-two week low of $49.27 and a fifty-two week high of $66.04. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). The firm had revenue of $22.05 billion for the quarter, compared to the consensus estimate of $22.64 billion. Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 EPS. research analysts expect that Wells Fargo & Co will post 4.74 earnings per share for the current fiscal year.

Wells Fargo & Co announced that its Board of Directors has approved a stock repurchase plan on Tuesday, January 23rd that allows the company to buyback 350,000,000 outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, February 1st. This represents a $1.56 dividend on an annualized basis and a yield of 2.37%. Wells Fargo & Co’s dividend payout ratio is currently 37.77%.

A number of research firms have weighed in on WFC. Vetr upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $54.49 price target for the company in a research note on Tuesday, October 24th. Vertical Group upgraded Wells Fargo & Co from a “sell” rating to a “buy” rating in a research note on Thursday, December 7th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $59.00 target price on shares of Wells Fargo & Co in a research note on Monday, October 16th. Buckingham Research upgraded Wells Fargo & Co from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $57.00 to $75.00 in a research note on Thursday, December 21st. They noted that the move was a valuation call. Finally, Citigroup reissued a “buy” rating and set a $65.00 price target (up from $60.00) on shares of Wells Fargo & Co in a report on Monday, October 9th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $61.71.

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Wells Fargo & Co Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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