B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 7.5% during the first quarter, Holdings Channel reports. The fund owned 135,644 shares of the financial services provider’s stock after selling 11,014 shares during the period. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Wells Fargo & were worth $7,550,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Alexandria Capital LLC raised its stake 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 during the last quarter. Brick & Kyle Associates raised its stake in shares of Wells Fargo & by 9.5% in the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after buying an additional 162 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in shares of Wells Fargo & during the first quarter worth $124,000. Gradient Investments LLC raised its stake in shares of Wells Fargo & by 58.6% in the first quarter. Gradient Investments LLC now owns 2,494 shares of the financial services provider’s stock worth $139,000 after buying an additional 921 shares during the last quarter. Finally, Winch Advisory Services LLC raised its stake 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 during the last quarter. Institutional investors own 75.85% of the company’s stock.

Wells Fargo & Company (NYSE:WFC) traded down 0.02% during mid-day trading on Friday, hitting $51.94. 14,714,450 shares of the stock traded hands. The company has a 50 day moving average of $54.25 and a 200-day moving average of $55.00. Wells Fargo & Company has a 12-month low of $43.55 and a 12-month high of $59.99. The stock has a market cap of $257.83 billion, a PE ratio of 12.79 and a beta of 0.95.

Wells Fargo & (NYSE:WFC) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.23 billion. During the same period last year, the firm posted $1.01 EPS. Wells Fargo &’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts forecast 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 given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.00%. This is a positive change from Wells Fargo &’s previous quarterly dividend of $0.38. The ex-dividend date is Wednesday, August 2nd. Wells Fargo &’s dividend payout ratio (DPR) is 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 purchase 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 shares are undervalued.

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A number of equities research analysts recently weighed in on WFC shares. Instinet decreased their price objective on shares of Wells Fargo & from $65.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, April 19th. Vetr upgraded shares of Wells Fargo & from a “hold” rating to a “buy” rating and set a $57.21 price target for the company in a report on Wednesday, May 10th. Keefe, Bruyette & Woods set a $62.00 price target on shares of Wells Fargo & and gave the company a “buy” rating in a report on Friday, May 19th. Deutsche Bank AG restated a “buy” rating on shares of Wells Fargo & in a report on Monday, July 3rd. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $60.00 price target on shares of Wells Fargo & in a report on Friday, July 28th. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Wells Fargo & has an average rating of “Hold” and a consensus target price of $55.87.

In other Wells Fargo & news, insider Mary T. Mack sold 38,988 shares of the business’s stock in a transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Hope A. Hardison sold 20,000 shares of the business’s stock in a transaction 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 sale, the insider now owns 109 shares in the company, valued at $5,675.63. The disclosure for this sale can be found here. Over the last quarter, insiders sold 131,278 shares of company stock worth $6,940,120. 0.22% of the stock is currently owned by insiders.

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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