Troy Asset Management Ltd boosted its position in Wells Fargo & Co (NYSE:WFC) by 0.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,356,427 shares of the financial services provider’s stock after purchasing an additional 7,893 shares during the period. Wells Fargo & Co accounts for about 6.7% of Troy Asset Management Ltd’s portfolio, making the stock its 8th biggest holding. Troy Asset Management Ltd’s holdings in Wells Fargo & Co were worth $130,640,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WFC. Livingston Group Asset Management CO operating as Southport Capital Management increased its stake in shares of Wells Fargo & Co by 10.6% in the second quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 59,871 shares of the financial services provider’s stock valued at $3,319,000 after buying an additional 5,729 shares during the period. Weatherly Asset Management L. P. increased its stake in shares of Wells Fargo & Co by 24.2% in the second quarter. Weatherly Asset Management L. P. now owns 25,130 shares of the financial services provider’s stock valued at $1,393,000 after buying an additional 4,896 shares during the period. Diversified Investment Strategies LLC acquired a new stake in shares of Wells Fargo & Co in the second quarter valued at about $209,000. Aperio Group LLC increased its stake in shares of Wells Fargo & Co by 1.2% in the second quarter. Aperio Group LLC now owns 1,943,770 shares of the financial services provider’s stock valued at $107,763,000 after buying an additional 23,525 shares during the period. Finally, Sequent Asset Management LLC increased its stake in shares of Wells Fargo & Co by 21.2% in the second quarter. Sequent Asset Management LLC now owns 43,880 shares of the financial services provider’s stock valued at $2,433,000 after buying an additional 7,685 shares during the period. 76.39% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Hope A. Hardison sold 25,000 shares of the company’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the sale, the executive vice president now owns 109 shares in the company, valued at approximately $6,323.09. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Petros G. Pelos sold 25,567 shares of the company’s stock in a transaction dated Thursday, May 24th. The shares were sold at an average price of $54.76, for a total value of $1,400,048.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 150,567 shares of company stock worth $8,721,299. 0.09% of the stock is owned by corporate insiders.

Shares of Wells Fargo & Co stock opened at $58.86 on Friday. Wells Fargo & Co has a one year low of $49.27 and a one year high of $66.31. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.86 and a current ratio of 0.88. The stock has a market cap of $283.15 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 1.57 and a beta of 1.13.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 1st. Investors of record on Friday, August 10th will be given a dividend of $0.43 per share. This is a positive change from Wells Fargo & Co’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, August 9th. This represents a $1.72 annualized dividend and a dividend yield of 2.92%. Wells Fargo & Co’s dividend payout ratio is presently 41.85%.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Thursday, July 19th. Susquehanna Bancshares set a $63.00 price target on Wells Fargo & Co and gave the company a “hold” rating in a research note on Friday, July 13th. Keefe, Bruyette & Woods raised Wells Fargo & Co from a “market perform” rating to an “outperform” rating and increased their price target for the company from $57.00 to $63.00 in a research note on Sunday, July 15th. They noted that the move was a valuation call. Macquarie raised Wells Fargo & Co from an “underperform” rating to an “outperform” rating in a research note on Monday, April 30th. Finally, Morgan Stanley decreased their price target on Wells Fargo & Co from $60.00 to $57.00 and set an “underweight” rating for the company in a research note on Monday, April 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Wells Fargo & Co presently has a consensus rating of “Buy” and a consensus price target of $63.34.

Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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