Marsico Capital Management LLC lowered its stake in Wells Fargo & Company (NYSE:WFC) by 2.1% during the first quarter, Holdings Channel reports. The firm owned 1,203,551 shares of the financial services provider’s stock after selling 26,114 shares during the period. Wells Fargo & comprises approximately 2.9% of Marsico Capital Management LLC’s investment portfolio, making the stock its 11th largest position. Marsico Capital Management LLC’s holdings in Wells Fargo & were worth $66,990,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Dodge & Cox acquired a new stake in shares of Wells Fargo & during the fourth quarter valued at $3,942,119,000. Norges Bank acquired a new stake in shares of Wells Fargo & during the fourth quarter valued at $2,800,566,000. Harris Associates L P increased its stake in shares of Wells Fargo & by 1.2% in the first quarter. Harris Associates L P now owns 23,796,125 shares of the financial services provider’s stock valued at $1,324,492,000 after buying an additional 286,710 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Wells Fargo & by 3.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 14,311,805 shares of the financial services provider’s stock valued at $796,596,000 after buying an additional 423,113 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Wells Fargo & by 0.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,415,854 shares of the financial services provider’s stock valued at $746,726,000 after buying an additional 93,236 shares during the period. Institutional investors and hedge funds own 75.85% of the company’s stock.

Wells Fargo & Company (NYSE WFC) traded down 0.34% on Thursday, reaching $52.61. 3,210,643 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $54.30 and a 200-day moving average of $55.04. The firm has a market capitalization of $261.15 billion, a price-to-earnings ratio of 12.96 and a beta of 0.95. Wells Fargo & Company has a 12 month low of $43.55 and a 12 month high of $59.99.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be paid a dividend of $0.39 per share. This is a positive change from Wells Fargo &’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $1.56 annualized dividend and a yield of 2.96%. Wells Fargo &’s dividend payout ratio (DPR) is presently 38.42%.

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

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WFC has been the subject of several recent research reports. Berenberg Bank downgraded shares of Wells Fargo & from a “hold” rating to a “sell” rating and increased their target price for the stock from $35.00 to $45.00 in a research note on Friday, July 21st. Evercore ISI restated an “outperform” rating and issued a $64.00 price objective on shares of Wells Fargo & in a research report on Tuesday, April 18th. Vining Sparks upgraded shares of Wells Fargo & to a “strong-buy” rating and set a $65.00 price objective for the company in a research report on Thursday, April 27th. Keefe, Bruyette & Woods restated an “overweight” rating on shares of Wells Fargo & in a research report on Thursday, July 13th. Finally, Buckingham Research restated a “neutral” rating and issued a $62.00 price objective (up previously from $60.00) on shares of Wells Fargo & in a research report on Monday, July 10th. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Wells Fargo & currently has a consensus rating of “Hold” and a consensus target price of $55.87.

In related news, insider Mary T. Mack sold 38,988 shares of Wells Fargo & stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $52.58, for a total transaction of $2,049,989.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Hope A. Hardison sold 20,000 shares of Wells Fargo & stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $52.07, for a total transaction of $1,041,400.00. Following the transaction, the insider now directly owns 109 shares in the company, valued at approximately $5,675.63. The disclosure for this sale can be found here. Insiders have sold a total of 131,278 shares of company stock worth $6,940,120 in the last three months. 0.22% of the stock is owned by insiders.

About Wells Fargo &

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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