Strs Ohio cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 6.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,636,883 shares of the financial services provider’s stock after selling 238,221 shares during the quarter. Wells Fargo & accounts for about 0.9% of Strs Ohio’s investment portfolio, making the stock its 15th largest holding. Strs Ohio owned approximately 0.07% of Wells Fargo & worth $201,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Canada Pension Plan Investment Board raised its position in Wells Fargo & by 83.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 7,972,116 shares of the financial services provider’s stock valued at $443,728,000 after purchasing an additional 3,637,100 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in Wells Fargo & by 49.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 9,713,557 shares of the financial services provider’s stock valued at $540,657,000 after purchasing an additional 3,214,592 shares during the last quarter. APG Asset Management N.V. raised its position in Wells Fargo & by 38.8% during the 2nd quarter. APG Asset Management N.V. now owns 9,587,279 shares of the financial services provider’s stock valued at $531,231,000 after purchasing an additional 2,681,497 shares during the last quarter. Boston Partners raised its position in Wells Fargo & by 50.0% during the 1st quarter. Boston Partners now owns 7,948,841 shares of the financial services provider’s stock valued at $442,432,000 after purchasing an additional 2,648,763 shares during the last quarter. Finally, Karp Capital Management Corp bought a new position in Wells Fargo & during the 1st quarter valued at approximately $90,858,000. Institutional investors own 75.10% of the company’s stock.

Shares of Wells Fargo & Company (NYSE:WFC) opened at 54.25 on Friday. The firm’s 50-day moving average price is $51.89 and its 200 day moving average price is $53.88. Wells Fargo & Company has a 52 week low of $43.55 and a 52 week high of $59.99. The stock has a market capitalization of $269.29 billion, a P/E ratio of 13.36 and a beta of 0.96.

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 analysts’ consensus estimates of $1.02 by $0.05. The business had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $22.23 billion. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 earnings per share. Analysts expect that Wells Fargo & Company will post $4.15 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 4th were given a dividend of $0.39 per share. The ex-dividend date was Wednesday, August 2nd. This is an increase from Wells Fargo &’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.88%. Wells Fargo &’s dividend payout ratio is presently 38.42%.

Wells Fargo & declared that its Board of Directors has initiated a share repurchase 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 shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

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A number of research firms have commented on WFC. Buckingham Research reaffirmed a “neutral” rating and set a $62.00 price target (up previously from $60.00) on shares of Wells Fargo & in a research report on Monday, July 10th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $62.00 price target on shares of Wells Fargo & in a research report on Friday, June 23rd. Zacks Investment Research lowered Wells Fargo & from a “hold” rating to a “sell” rating in a research report on Monday, June 19th. Jefferies Group LLC reaffirmed a “hold” rating and set a $62.00 price target on shares of Wells Fargo & in a research report on Thursday, June 8th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating on shares of Wells Fargo & in a research report on Sunday, July 30th. Six analysts have rated the stock with a sell rating, fourteen have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Wells Fargo & currently has a consensus rating of “Hold” and a consensus price target of $56.26.

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.

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

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