First Trust Advisors LP raised its stake in Wells Fargo & Co. (NYSE:WFC) by 51.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 687,612 shares of the financial services provider’s stock after buying an additional 233,501 shares during the period. First Trust Advisors LP’s holdings in Wells Fargo & Co. were worth $32,545,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Wellington Management Group LLP increased its stake in Wells Fargo & Co. by 2.7% in the first quarter. Wellington Management Group LLP now owns 131,270,916 shares of the financial services provider’s stock valued at $6,348,262,000 after buying an additional 3,450,553 shares in the last quarter. BlackRock Fund Advisors increased its stake in Wells Fargo & Co. by 8.8% in the first quarter. BlackRock Fund Advisors now owns 57,985,130 shares of the financial services provider’s stock valued at $2,804,161,000 after buying an additional 4,695,036 shares in the last quarter. Geode Capital Management LLC increased its stake in Wells Fargo & Co. by 1.3% in the first quarter. Geode Capital Management LLC now owns 39,052,057 shares of the financial services provider’s stock valued at $1,884,841,000 after buying an additional 502,040 shares in the last quarter. Legal & General Group Plc raised its position in Wells Fargo & Co. by 2.1% in the first quarter. Legal & General Group Plc now owns 22,729,888 shares of the financial services provider’s stock valued at $1,099,251,000 after buying an additional 457,687 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in Wells Fargo & Co. by 0.6% in the first quarter. Fisher Asset Management LLC now owns 19,102,039 shares of the financial services provider’s stock valued at $921,673,000 after buying an additional 110,621 shares during the last quarter. Institutional investors and hedge funds own 74.01% of the company’s stock.

Wells Fargo & Co. (NYSE:WFC) traded up 1.20% on Tuesday, hitting $46.56. 51,429,485 shares of the company traded hands. The firm has a market capitalization of $234.92 billion, a PE ratio of 11.50 and a beta of 0.90. The firm’s 50 day moving average price is $48.48 and its 200 day moving average price is $48.66. Wells Fargo & Co. has a 1-year low of $44.50 and a 1-year high of $56.34.

Wells Fargo & Co. (NYSE:WFC) last released its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.01 EPS for the quarter, hitting the consensus estimate of $1.01. Wells Fargo & Co. had a return on equity of 12.95% and a net margin of 24.33%. The company earned $22.20 billion during the quarter. During the same quarter in the previous year, the business posted $1.03 earnings per share. Wells Fargo & Co.’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts predict that Wells Fargo & Co. will post $4.02 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 5th were issued a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $1.52 annualized dividend and a yield of 3.26%. Wells Fargo & Co.’s payout ratio is 37.25%.

Several research analysts have issued reports on the stock. Deutsche Bank AG restated a “buy” rating on shares of Wells Fargo & Co. in a report on Sunday, June 26th. Barclays PLC restated a “buy” rating on shares of Wells Fargo & Co. in a report on Saturday, July 9th. Nomura restated a “buy” rating on shares of Wells Fargo & Co. in a report on Saturday, July 9th. Morgan Stanley upgraded shares of Wells Fargo & Co. from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $56.00 to $53.00 in a report on Tuesday. Finally, Zacks Investment Research lowered shares of Wells Fargo & Co. from a “hold” rating to a “sell” rating in a report on Tuesday. Seven investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $52.26.

In other Wells Fargo & Co. news, COO Timothy J. Sloan sold 20,500 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $48.92, for a total value of $1,002,860.00. Following the transaction, the chief operating officer now directly owns 650,815 shares of the company’s stock, valued at $31,837,869.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by corporate insiders.

About Wells Fargo & Co.

Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

5 Day Chart for NYSE:WFC

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