Griffin Asset Management Inc. acquired a new position in Wells Fargo & Company (NYSE:WFC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 139,974 shares of the financial services provider’s stock, valued at approximately $7,756,000. Wells Fargo & Company comprises about 2.1% of Griffin Asset Management Inc.’s holdings, making the stock its 11th biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of WFC. Boston Partners boosted its holdings in shares of Wells Fargo & Company by 140.1% in the second quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock worth $1,057,700,000 after buying an additional 11,139,780 shares during the last quarter. Capital World Investors boosted its holdings in shares of Wells Fargo & Company by 10.8% in the second quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock worth $6,192,259,000 after buying an additional 10,927,679 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Wells Fargo & Company by 19.7% in the second quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock worth $2,511,614,000 after buying an additional 7,445,414 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Wells Fargo & Company by 26.7% in the second quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock worth $1,653,464,000 after buying an additional 6,291,906 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Wells Fargo & Company by 396.3% during the 2nd quarter. Janus Henderson Group PLC now owns 5,894,918 shares of the financial services provider’s stock worth $326,655,000 after acquiring an additional 4,707,207 shares during the period. 75.77% of the stock is currently owned by institutional investors.

In related news, VP Richard Levy sold 97,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total value of $5,477,590.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John R. Shrewsberry sold 70,000 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.90, for a total transaction of $3,983,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 184,482 shares of company stock worth $10,471,050. Company insiders own 0.22% of the company’s stock.

A number of equities research analysts have commented on the stock. Goldman Sachs Group restated a “buy” rating on shares of Wells Fargo & Company in a research note on Wednesday, October 11th. Vetr upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating and set a $54.49 target price on the stock in a research note on Tuesday, October 24th. Vertical Group assumed coverage on shares of Wells Fargo & Company in a research note on Friday, October 6th. They set a “sell” rating on the stock. Credit Suisse Group restated a “hold” rating and set a $57.00 target price on shares of Wells Fargo & Company in a research note on Tuesday, October 10th. Finally, UBS set a $55.00 target price on shares of Wells Fargo & Company and gave the stock a “hold” rating in a research note on Monday, October 16th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $57.25.

Wells Fargo & Company (WFC) traded up $0.65 during trading on Friday, hitting $59.87. 36,467,323 shares of the stock traded hands, compared to its average volume of 20,802,504. The company has a market capitalization of $291,614.72, a PE ratio of 14.30, a P/E/G ratio of 1.42 and a beta of 0.96. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.91. Wells Fargo & Company has a 52-week low of $49.27 and a 52-week high of $60.65.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.20). The company had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $22.30 billion. Wells Fargo & Company had a net margin of 22.00% and a return on equity of 12.59%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 EPS. sell-side analysts expect that Wells Fargo & Company will post 3.97 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 3rd were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Thursday, November 2nd. Wells Fargo & Company’s payout ratio is currently 40.31%.

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Wells Fargo & Company Company 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.

Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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