Westwood Holdings Group Inc. lowered its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,021,483 shares of the financial services provider’s stock after selling 97,884 shares during the quarter. Wells Fargo & Co accounts for about 1.0% of Westwood Holdings Group Inc.’s portfolio, making the stock its 19th largest position. Westwood Holdings Group Inc.’s holdings in Wells Fargo & Co were worth $95,656,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Marshall Wace LLP purchased a new position in Wells Fargo & Co in the 2nd quarter worth about $5,022,000. Vivaldi Capital Management LLC purchased a new position in Wells Fargo & Co in the 2nd quarter worth about $423,000. PVG Asset Management Corp increased its stake in Wells Fargo & Co by 60.4% in the 2nd quarter. PVG Asset Management Corp now owns 36,209 shares of the financial services provider’s stock worth $1,713,000 after buying an additional 13,641 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in Wells Fargo & Co by 4.5% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 75,362 shares of the financial services provider’s stock worth $3,566,000 after buying an additional 3,216 shares during the period. Finally, Alberta Investment Management Corp increased its stake in Wells Fargo & Co by 7.0% in the 2nd quarter. Alberta Investment Management Corp now owns 273,000 shares of the financial services provider’s stock worth $12,918,000 after buying an additional 17,800 shares during the period. Institutional investors and hedge funds own 75.29% of the company’s stock.

NYSE WFC traded down $0.08 during trading on Friday, reaching $48.83. 770,326 shares of the company’s stock traded hands, compared to its average volume of 17,868,290. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.89 and a quick ratio of 0.87. The firm has a market cap of $214.84 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 0.95 and a beta of 1.09. The company’s 50 day simple moving average is $46.53 and its two-hundred day simple moving average is $47.24. Wells Fargo & Co has a 12-month low of $43.02 and a 12-month high of $55.81.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.14. Wells Fargo & Co had a net margin of 23.26% and a return on equity of 13.74%. The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.95 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. Research analysts expect that Wells Fargo & Co will post 4.77 earnings per share for the current fiscal year.

Wells Fargo & Co declared that its Board of Directors has initiated a share repurchase program on Thursday, June 27th that permits the company to repurchase $23.10 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 11.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were given a $0.51 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.18%. This is an increase from Wells Fargo & Co’s previous quarterly dividend of $0.45. Wells Fargo & Co’s payout ratio is presently 46.58%.

WFC has been the topic of several recent analyst reports. UBS Group downgraded shares of Wells Fargo & Co from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $51.00 to $49.00 in a research note on Tuesday, September 10th. JPMorgan Chase & Co. cut their target price on shares of Wells Fargo & Co from $48.50 to $47.50 and set an “underweight” rating on the stock in a research report on Tuesday, July 9th. Atlantic Securities downgraded shares of Wells Fargo & Co from a “neutral” rating to an “underweight” rating and set a $42.00 target price on the stock. in a research report on Tuesday, June 11th. Zacks Investment Research downgraded shares of Wells Fargo & Co from a “hold” rating to a “sell” rating and set a $48.00 target price on the stock. in a research report on Thursday, June 27th. Finally, Morgan Stanley cut their target price on shares of Wells Fargo & Co from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 17th. Five equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $50.74.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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