Jupiter Asset Management Ltd. decreased its position in Wells Fargo & Company (NYSE:WFC) by 26.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 602,922 shares of the financial services provider’s stock after selling 212,484 shares during the period. Wells Fargo & makes up approximately 1.2% of Jupiter Asset Management Ltd.’s investment portfolio, making the stock its 13th largest position. Jupiter Asset Management Ltd.’s holdings in Wells Fargo & were worth $33,559,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of WFC. Alexandria Capital LLC raised its position in shares of Wells Fargo & by 0.3% in the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock worth $102,000 after buying an additional 6 shares in the last quarter. Winch Advisory Services LLC raised its position in shares of Wells Fargo & by 0.7% in the first quarter. Winch Advisory Services LLC now owns 2,756 shares of the financial services provider’s stock worth $153,000 after buying an additional 18 shares in the last quarter. Jackson Grant Investment Advisers Inc. raised its position in shares of Wells Fargo & by 0.5% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 4,928 shares of the financial services provider’s stock worth $274,000 after buying an additional 24 shares in the last quarter. Keystone Financial Planning Inc. raised its position in shares of Wells Fargo & by 0.6% in the first quarter. Keystone Financial Planning Inc. now owns 6,755 shares of the financial services provider’s stock worth $376,000 after buying an additional 39 shares in the last quarter. Finally, Advantage Investment Management LLC raised its position in shares of Wells Fargo & by 0.3% in the first quarter. Advantage Investment Management LLC now owns 19,991 shares of the financial services provider’s stock worth $1,113,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 75.85% of the company’s stock.

Wells Fargo & Company (WFC) opened at 52.54 on Tuesday. Wells Fargo & Company has a 52-week low of $43.55 and a 52-week high of $59.99. The stock has a market cap of $260.95 billion, a P/E ratio of 12.94 and a beta of 0.95. The firm’s 50-day moving average is $54.49 and its 200-day moving average is $55.11.

Wells Fargo & (NYSE:WFC) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.05. The company had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.23 billion. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 earnings per share. Equities research analysts predict that Wells Fargo & Company will post $4.17 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, August 2nd. This is a positive change from Wells Fargo &’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a yield of 2.97%. Wells Fargo &’s dividend payout ratio is 38.42%.

Wells Fargo & announced that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that allows the company to buyback $11.50 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 4.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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A number of equities analysts recently weighed in on the stock. Piper Jaffray Companies dropped their target price on shares of Wells Fargo & from $55.00 to $52.00 and set a “neutral” rating for the company in a research report on Tuesday, April 18th. Keefe, Bruyette & Woods set a $62.00 target price on shares of Wells Fargo & and gave the stock a “buy” rating in a research report on Friday, May 19th. Buckingham Research reiterated a “neutral” rating and set a $62.00 price objective (up previously from $60.00) on shares of Wells Fargo & in a research report on Monday, July 10th. Instinet lowered their price objective on shares of Wells Fargo & from $65.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, April 19th. Finally, Zacks Investment Research lowered shares of Wells Fargo & from a “hold” rating to a “sell” rating in a research report on Monday, June 19th. Six analysts have rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $55.87.

In other Wells Fargo & news, insider Petros G. Pelos sold 24,708 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $54.07, for a total transaction of $1,335,961.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David M. Carroll sold 27,582 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $53.28, for a total transaction of $1,469,568.96. The disclosure for this sale can be found here. Insiders have sold 131,278 shares of company stock worth $6,940,120 over the last quarter. Insiders own 0.22% of the company’s stock.

Wells Fargo & Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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

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