Sei Investments Co. Reduces Stake in Wells Fargo & Company (NYSE:WFC)

Sei Investments Co. lowered its stake in Wells Fargo & Company (NYSE:WFC) by 2.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,522,951 shares of the financial services provider’s stock after selling 30,333 shares during the period. Sei Investments Co.’s holdings in Wells Fargo & Company were worth $59,251,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jacobi Capital Management LLC grew its position in Wells Fargo & Company by 1.4% in the first quarter. Jacobi Capital Management LLC now owns 16,679 shares of the financial services provider’s stock worth $652,000 after acquiring an additional 236 shares in the last quarter. North Star Asset Management Inc. grew its position in Wells Fargo & Company by 1.4% in the first quarter. North Star Asset Management Inc. now owns 16,963 shares of the financial services provider’s stock worth $663,000 after acquiring an additional 240 shares in the last quarter. Gryphon Financial Partners LLC grew its position in Wells Fargo & Company by 0.9% in the first quarter. Gryphon Financial Partners LLC now owns 26,713 shares of the financial services provider’s stock worth $1,044,000 after acquiring an additional 246 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of Wells Fargo & Company by 17.7% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,766 shares of the financial services provider’s stock valued at $69,000 after buying an additional 266 shares during the period. Finally, Tributary Capital Management LLC boosted its position in shares of Wells Fargo & Company by 3.4% during the first quarter. Tributary Capital Management LLC now owns 9,100 shares of the financial services provider’s stock valued at $356,000 after buying an additional 300 shares during the period. Institutional investors own 69.37% of the company’s stock.

Shares of NYSE:WFC opened at $45.09 on Friday. The company has a market capitalization of $186.38 billion, a P/E ratio of 31.10, a price-to-earnings-growth ratio of 1.28 and a beta of 1.36. Wells Fargo & Company has a 52 week low of $20.76 and a 52 week high of $48.13. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 1.10. The business has a 50 day simple moving average of $44.71.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, April 13th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.36. Wells Fargo & Company had a net margin of 9.42% and a return on equity of 4.88%. The business had revenue of $18.06 billion for the quarter, compared to analyst estimates of $17.42 billion. During the same period in the previous year, the company earned $0.01 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities analysts anticipate that Wells Fargo & Company will post 3.72 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Friday, May 7th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Thursday, May 6th. Wells Fargo & Company’s dividend payout ratio is currently 72.73%.

WFC has been the subject of several recent analyst reports. Bank of America upgraded Wells Fargo & Company from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Friday, June 4th. Argus boosted their target price on Wells Fargo & Company from $37.00 to $47.00 in a research report on Thursday, April 15th. Royal Bank of Canada boosted their target price on Wells Fargo & Company from $34.00 to $40.00 in a research report on Thursday, April 15th. Deutsche Bank Aktiengesellschaft boosted their target price on Wells Fargo & Company from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, April 26th. Finally, Raymond James lifted their price target on shares of Wells Fargo & Company from $42.00 to $50.00 and gave the company an “outperform” rating in a research note on Thursday, April 15th. Nine investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $43.61.

Wells Fargo & Company Company Profile

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

Read More: Why is momentum important to successful trading?

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

Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.