Horan Capital Management raised its position in shares of Wells Fargo & Co. (NYSE:WFC) by 1.0% during the third quarter, Holdings Channel reports. The institutional investor owned 297,363 shares of the financial services provider’s stock after buying an additional 3,011 shares during the period. Wells Fargo & Co. comprises 3.5% of Horan Capital Management’s holdings, making the stock its 9th largest position. Horan Capital Management’s holdings in Wells Fargo & Co. were worth $13,167,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. AMP Capital Investors Ltd raised its position in shares of Wells Fargo & Co. by 0.9% in the first quarter. AMP Capital Investors Ltd now owns 2,665,156 shares of the financial services provider’s stock valued at $129,659,000 after buying an additional 23,048 shares during the last quarter. Sather Financial Group Inc raised its position in shares of Wells Fargo & Co. by 9.2% in the first quarter. Sather Financial Group Inc now owns 101,249 shares of the financial services provider’s stock valued at $4,896,000 after buying an additional 8,497 shares during the last quarter. National Pension Service raised its position in shares of Wells Fargo & Co. by 4.2% in the first quarter. National Pension Service now owns 2,441,956 shares of the financial services provider’s stock valued at $118,093,000 after buying an additional 98,655 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of Wells Fargo & Co. by 5.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 6,803,238 shares of the financial services provider’s stock valued at $329,005,000 after buying an additional 325,900 shares during the last quarter. Finally, Allen Investment Management LLC raised its position in shares of Wells Fargo & Co. by 10.0% in the first quarter. Allen Investment Management LLC now owns 24,288 shares of the financial services provider’s stock valued at $1,175,000 after buying an additional 2,198 shares during the last quarter. Institutional investors own 72.76% of the company’s stock.

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

Shares of Wells Fargo & Co. (NYSE:WFC) traded up 0.514% during trading on Tuesday, reaching $51.845. 8,589,152 shares of the company’s stock were exchanged. The company has a 50 day moving average of $47.82 and a 200 day moving average of $47.87. The firm has a market capitalization of $260.38 billion, a P/E ratio of 12.865 and a beta of 0.93. Wells Fargo & Co. has a 52-week low of $43.55 and a 52-week high of $56.24.

Wells Fargo & Co. (NYSE:WFC) last released its earnings results on Friday, October 14th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.02. Wells Fargo & Co. had a net margin of 23.91% and a return on equity of 12.72%. The company earned $22.30 billion during the quarter. During the same quarter in the previous year, the company earned $1.05 EPS. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Wells Fargo & Co. will post $4.03 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 4th will be given a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $1.52 dividend on an annualized basis and a yield of 2.95%. Wells Fargo & Co.’s payout ratio is 37.44%.

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Several equities analysts have issued reports on the company. JPMorgan Chase & Co. lowered Wells Fargo & Co. from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $53.50 to $48.00 in a report on Wednesday, September 21st. Macquarie reissued an “underperform” rating on shares of Wells Fargo & Co. in a report on Tuesday, October 18th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $57.00 price target on shares of Wells Fargo & Co. in a report on Friday, September 9th. Argus reissued a “buy” rating on shares of Wells Fargo & Co. in a report on Thursday, October 13th. Finally, Citigroup Inc. lowered Wells Fargo & Co. to an “underperform” rating in a report on Friday, November 18th. Nine equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the company. Wells Fargo & Co. has a consensus rating of “Hold” and a consensus target price of $49.57.

Wells Fargo & Co. Company Profile

Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

5 Day Chart for NYSE:WFC

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