Morningstar Investment Services LLC increased its position in shares of Wells Fargo & Co. (NYSE:WFC) by 55.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,341,960 shares of the financial services provider’s stock after buying an additional 478,937 shares during the period. Wells Fargo & Co. comprises approximately 2.0% of Morningstar Investment Services LLC’s investment portfolio, making the stock its 9th largest position. Morningstar Investment Services LLC’s holdings in Wells Fargo & Co. were worth $63,113,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Brick & Kyle Associates boosted its position in Wells Fargo & Co. by 10.6% in the first quarter. Brick & Kyle Associates now owns 3,153 shares of the financial services provider’s stock worth $152,000 after buying an additional 303 shares during the last quarter. Tradewinds Capital Management LLC boosted its position in Wells Fargo & Co. by 4.7% in the second quarter. Tradewinds Capital Management LLC now owns 3,253 shares of the financial services provider’s stock worth $154,000 after buying an additional 147 shares during the last quarter. Gemmer Asset Management LLC boosted its position in Wells Fargo & Co. by 6.7% in the second quarter. Gemmer Asset Management LLC now owns 3,735 shares of the financial services provider’s stock worth $177,000 after buying an additional 234 shares during the last quarter. Ironwood Financial llc acquired a new position in Wells Fargo & Co. during the first quarter worth approximately $182,000. Finally, Cypress Capital Management LLC WY acquired a new position in Wells Fargo & Co. during the second quarter worth approximately $190,000. 74.01% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Co. (NYSE:WFC) traded up 1.20% during midday trading on Tuesday, hitting $46.56. 51,430,962 shares of the company were exchanged. Wells Fargo & Co. has a 1-year low of $44.50 and a 1-year high of $56.34. The stock has a 50 day moving average of $48.48 and a 200 day moving average of $48.66. The firm has a market capitalization of $234.92 billion, a PE ratio of 11.50 and a beta of 0.90.

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

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

A number of equities analysts recently commented on WFC shares. Credit Suisse Group AG reiterated a “buy” rating and set a $58.00 price target on shares of Wells Fargo & Co. in a report on Wednesday, May 25th. Evercore ISI restated a “buy” rating and set a $53.00 price objective on shares of Wells Fargo & Co. in a report on Thursday, May 26th. Drexel Hamilton restated a “buy” rating on shares of Wells Fargo & Co. in a report on Thursday, May 26th. Royal Bank Of Canada restated a “buy” rating on shares of Wells Fargo & Co. in a report on Thursday, May 26th. Finally, FBR & Co restated a “buy” rating and set a $63.00 price objective on shares of Wells Fargo & Co. in a report on Wednesday, June 1st. Seven investment analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Wells Fargo & Co. has an average rating of “Hold” and a consensus price target of $52.26.

In related news, COO Timothy J. Sloan sold 20,500 shares of Wells Fargo & Co. stock in a transaction on Monday, August 8th. The shares were 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 owns 650,815 shares in the company, valued at approximately $31,837,869.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.29% of the stock is currently 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.

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