Beacon Investment Advisory Services Inc. cut its stake in shares of Wells Fargo & Co (NYSE:WFC) by 28.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,055 shares of the financial services provider’s stock after selling 4,327 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Wells Fargo & Co were worth $509,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Capital International Investors increased its holdings in Wells Fargo & Co by 270.1% in the third quarter. Capital International Investors now owns 89,775,252 shares of the financial services provider’s stock valued at $4,718,587,000 after purchasing an additional 65,517,025 shares during the period. Primecap Management Co. CA increased its holdings in Wells Fargo & Co by 47.1% in the third quarter. Primecap Management Co. CA now owns 38,512,187 shares of the financial services provider’s stock valued at $2,024,201,000 after purchasing an additional 12,337,098 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in Wells Fargo & Co by 4,415.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,790,126 shares of the financial services provider’s stock valued at $473,000 after purchasing an additional 21,307,608 shares during the period. Sanders Capital LLC increased its holdings in Wells Fargo & Co by 1.2% in the fourth quarter. Sanders Capital LLC now owns 15,820,838 shares of the financial services provider’s stock valued at $808,166,000 after purchasing an additional 180,608 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its position in Wells Fargo & Co by 5.7% during the third quarter. TIAA CREF Investment Management LLC now owns 15,545,982 shares of the financial services provider’s stock valued at $817,097,000 after acquiring an additional 839,794 shares during the last quarter. Institutional investors own 71.44% of the company’s stock.

WFC opened at $50.66 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 1.32. Wells Fargo & Co has a fifty-two week low of $43.02 and a fifty-two week high of $59.53. The stock has a market capitalization of $242.18 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 0.90 and a beta of 1.12.

Wells Fargo & Co (NYSE:WFC) last posted its earnings results on Tuesday, January 15th. The financial services provider reported $1.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.04. Wells Fargo & Co had a net margin of 22.95% and a return on equity of 13.34%. The company had revenue of $20.98 billion for the quarter, compared to analyst estimates of $21.80 billion. During the same quarter in the prior year, the business posted $1.16 EPS. The firm’s revenue was down 4.9% compared to the same quarter last year. Equities analysts forecast that Wells Fargo & Co will post 4.96 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 1st were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date was Thursday, January 31st. This is a positive change from Wells Fargo & Co’s previous quarterly dividend of $0.43. Wells Fargo & Co’s dividend payout ratio is currently 41.10%.

A number of equities analysts have recently issued reports on the stock. ValuEngine raised shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Friday, January 4th. Barclays cut their price objective on shares of Wells Fargo & Co from $66.00 to $64.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 2nd. Credit Suisse Group cut their price objective on shares of Wells Fargo & Co from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, December 7th. Royal Bank of Canada raised shares of Wells Fargo & Co from an “underperform” rating to a “sector perform” rating and set a $45.50 price objective on the stock in a research report on Wednesday, January 2nd. Finally, Zacks Investment Research raised shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Sunday, January 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $61.33.

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Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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