Mine & Arao Wealth Creation & Management LLC. Decreases Stake in Wells Fargo & Company (NYSE:WFC)

Mine & Arao Wealth Creation & Management LLC. lessened its stake in Wells Fargo & Company (NYSE:WFC) by 1.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 31,920 shares of the financial services provider’s stock after selling 621 shares during the quarter. Wells Fargo & Company accounts for approximately 0.8% of Mine & Arao Wealth Creation & Management LLC.’s portfolio, making the stock its 18th biggest position. Mine & Arao Wealth Creation & Management LLC.’s holdings in Wells Fargo & Company were worth $1,571,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Panagora Asset Management Inc. lifted its stake in Wells Fargo & Company by 131.0% during the third quarter. Panagora Asset Management Inc. now owns 3,453,854 shares of the financial services provider’s stock worth $141,124,000 after purchasing an additional 1,958,483 shares during the last quarter. Nordea Investment Management AB lifted its stake in Wells Fargo & Company by 42.7% during the fourth quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock worth $285,668,000 after purchasing an additional 1,729,132 shares during the last quarter. Artemis Investment Management LLP lifted its stake in Wells Fargo & Company by 87.8% during the fourth quarter. Artemis Investment Management LLP now owns 3,314,853 shares of the financial services provider’s stock worth $163,160,000 after purchasing an additional 1,549,979 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Wells Fargo & Company during the third quarter worth approximately $54,894,000. Finally, Canada Pension Plan Investment Board lifted its stake in Wells Fargo & Company by 37.7% during the third quarter. Canada Pension Plan Investment Board now owns 4,260,350 shares of the financial services provider’s stock worth $174,078,000 after purchasing an additional 1,166,000 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC stock traded up $0.17 on Wednesday, reaching $59.49. 7,358,081 shares of the company’s stock were exchanged, compared to its average volume of 18,900,727. The stock has a fifty day moving average of $57.24 and a 200-day moving average of $49.97. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $61.76. The firm has a market cap of $210.62 billion, a PE ratio of 12.44, a P/E/G ratio of 1.16 and a beta of 1.19. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. Wells Fargo & Company’s quarterly revenue was up .6% on a year-over-year basis. As a group, equities analysts predict that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.35%. Wells Fargo & Company’s payout ratio is 29.23%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WFC. Morgan Stanley boosted their target price on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Argus lifted their price target on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Jefferies Financial Group lifted their price target on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Finally, Raymond James lifted their price target on Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 16th. Thirteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.