Dana Investment Advisors Inc. cut its holdings in Wells Fargo & Company (NYSE:WFC – Free Report) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 322,852 shares of the financial services provider’s stock after selling 13,205 shares during the period. Wells Fargo & Company makes up 0.9% of Dana Investment Advisors Inc.’s investment portfolio, making the stock its 19th biggest holding. Dana Investment Advisors Inc.’s holdings in Wells Fargo & Company were worth $30,090,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Capital Research Global Investors boosted its holdings in Wells Fargo & Company by 18.6% in the third quarter. Capital Research Global Investors now owns 35,660,903 shares of the financial services provider’s stock worth $2,989,104,000 after purchasing an additional 5,584,930 shares in the last quarter. Legal & General Group Plc boosted its holdings in Wells Fargo & Company by 1.9% in the third quarter. Legal & General Group Plc now owns 21,009,237 shares of the financial services provider’s stock worth $1,760,994,000 after purchasing an additional 399,088 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Wells Fargo & Company by 7.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 17,859,680 shares of the financial services provider’s stock worth $1,496,998,000 after purchasing an additional 1,223,999 shares in the last quarter. Boston Partners boosted its holdings in Wells Fargo & Company by 1.9% in the third quarter. Boston Partners now owns 9,128,470 shares of the financial services provider’s stock worth $763,675,000 after purchasing an additional 174,350 shares in the last quarter. Finally, Davis Selected Advisers boosted its holdings in Wells Fargo & Company by 6.1% in the fourth quarter. Davis Selected Advisers now owns 8,258,031 shares of the financial services provider’s stock worth $769,649,000 after purchasing an additional 471,979 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.
More Wells Fargo & Company News
Here are the key news stories impacting Wells Fargo & Company this week:
- Negative Sentiment: JPMorgan reiterated a Hold rating on Wells Fargo and cut its price target to $86.50 from $91, reinforcing a more cautious near-term outlook for the stock. Wells Fargo (WFC) Stock Expected To Stay Under Pressure In The Short Term
- Neutral Sentiment: Wells Fargo announced cash dividends on six series of preferred stock, a routine capital return update that should not materially change the near-term outlook for common shares. Wells Fargo & Company Declares Cash Dividends on Preferred Stock
- Neutral Sentiment: Commentary around Wells Fargo’s post-earnings performance noted that the stock remains below its recent levels after the company’s latest results, with investors still assessing whether revenue growth can offset higher compensation and technology costs. Wells Fargo Revenues Are Rising, But Can It Bend the Cost Curve?
- Neutral Sentiment: Wells Fargo’s economists changed their view on the timing of the next Fed rate cut, highlighting uncertainty around inflation and interest-rate expectations that could influence bank earnings and net interest income. Wells Fargo sees writing on the wall about the next Fed rate cut
- Negative Sentiment: Broader financial stocks weakened in the latest session, which may be adding pressure to Wells Fargo as part of a sector-wide move lower. Sector Update: Financial Stocks Fall Wednesday
Analysts Set New Price Targets
View Our Latest Stock Analysis on Wells Fargo & Company
Wells Fargo & Company Stock Down 0.5%
WFC stock opened at $73.46 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90. Wells Fargo & Company has a 52-week low of $71.89 and a 52-week high of $97.76. The company has a 50-day moving average of $79.30 and a two-hundred day moving average of $85.64. The stock has a market capitalization of $224.79 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 0.87 and a beta of 0.96.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.02. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The company had revenue of $11.62 billion during the quarter, compared to analysts’ expectations of $21.85 billion. During the same period in the prior year, the company earned $1.39 earnings per share. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Wells Fargo & Company will post 6.82 EPS for the current year.
Wells Fargo & Company Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is 27.78%.
Insider Activity
In other news, EVP Bridget E. Engle sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the completion of the transaction, the executive vice president owned 83,478 shares of the company’s stock, valued at approximately $7,270,933.80. This represents a 26.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kleber Santos sold 25,000 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $87.72, for a total transaction of $2,193,000.00. Following the transaction, the executive vice president directly owned 79,876 shares of the company’s stock, valued at $7,006,722.72. This represents a 23.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 115,000 shares of company stock valued at $10,050,000. Insiders own 0.14% of the company’s stock.
About Wells Fargo & Company
Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.
Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.
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