LGT Capital Partners LTD. boosted its position in shares of Wells Fargo & Co. (NYSE:WFC) by 19.1% during the third quarter, Holdings Channel reports. The fund owned 424,730 shares of the financial services provider’s stock after buying an additional 68,040 shares during the period. Wells Fargo & Co. accounts for about 2.6% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 10th largest position. LGT Capital Partners LTD.’s holdings in Wells Fargo & Co. were worth $18,807,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WFC. Annex Advisory Services LLC increased its stake in Wells Fargo & Co. by 0.4% in the second quarter. Annex Advisory Services LLC now owns 6,422 shares of the financial services provider’s stock worth $304,000 after buying an additional 25 shares during the period. Bollard Group LLC increased its stake in Wells Fargo & Co. by 0.8% in the second quarter. Bollard Group LLC now owns 4,411 shares of the financial services provider’s stock worth $209,000 after buying an additional 33 shares during the period. Oakworth Capital Inc. increased its stake in Wells Fargo & Co. by 0.3% in the second quarter. Oakworth Capital Inc. now owns 14,625 shares of the financial services provider’s stock worth $741,000 after buying an additional 40 shares during the period. Sharkey Howes & Javer increased its stake in Wells Fargo & Co. by 0.7% in the second quarter. Sharkey Howes & Javer now owns 5,915 shares of the financial services provider’s stock worth $280,000 after buying an additional 44 shares during the period. Finally, Homrich & Berg increased its stake in Wells Fargo & Co. by 0.3% in the second quarter. Homrich & Berg now owns 21,168 shares of the financial services provider’s stock worth $1,002,000 after buying an additional 56 shares during the period. 72.76% of the stock is owned by hedge funds and other institutional investors.

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

Wells Fargo & Co. (NYSE:WFC) traded up 1.70% during midday trading on Wednesday, hitting $52.74. 6,353,776 shares of the stock traded hands. The stock has a market capitalization of $264.88 billion, a PE ratio of 13.09 and a beta of 0.93. Wells Fargo & Co. has a 12-month low of $43.55 and a 12-month high of $56.24. The firm’s 50 day moving average is $47.82 and its 200-day moving average is $47.86.

Wells Fargo & Co. (NYSE:WFC) last released its earnings results on Friday, October 14th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate 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 business earned $22.30 billion during the quarter. During the same period in the prior year, the business posted $1.05 earnings per share. Wells Fargo & Co.’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts anticipate that Wells Fargo & Co. will post $4.03 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 4th will be given a dividend of $0.38 per share. 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 2.93%. Wells Fargo & Co.’s dividend payout ratio (DPR) is 37.44%.

WARNING: “Wells Fargo & Co. (WFC) is LGT Capital Partners LTD.’s 10th Largest Position” was reported by Daily Political and is the sole property of of Daily Political. If you are viewing this piece of content on another publication, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The correct version of this piece of content can be viewed at http://www.dailypolitical.com/2016/11/30/wells-fargo-co-wfc-is-lgt-capital-partners-ltd-s-10th-largest-position.html.

A number of analysts have commented on the stock. Guggenheim downgraded shares of Wells Fargo & Co. from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $43.55 to $53.22 in a research report on Tuesday, November 15th. Citigroup Inc. downgraded shares of Wells Fargo & Co. to an “underperform” rating in a research report on Friday, November 18th. Jefferies Group downgraded shares of Wells Fargo & Co. from a “buy” rating to a “hold” rating in a report on Monday. Vetr upgraded shares of Wells Fargo & Co. from a “strong sell” rating to a “sell” rating and set a $46.56 target price on the stock in a report on Monday. Finally, BMO Capital Markets downgraded shares of Wells Fargo & Co. from a “market perform” rating to an “underperform” rating and boosted their target price for the stock from $43.55 to $47.00 in a report on Friday, November 18th. They noted that the move was a valuation call. Nine analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company. The company presently has an average 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

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Co. (NYSE:WFC).

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