Factory Mutual Insurance Co. Sells 275,400 Shares of Wells Fargo & Company (NYSE:WFC)

Factory Mutual Insurance Co. decreased its stake in Wells Fargo & Company (NYSE:WFC) by 30.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 616,464 shares of the financial services provider’s stock after selling 275,400 shares during the period. Factory Mutual Insurance Co.’s holdings in Wells Fargo & Company were worth $35,730,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. grew its position in Wells Fargo & Company by 7.3% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 50,662 shares of the financial services provider’s stock worth $2,070,000 after buying an additional 3,440 shares in the last quarter. Eagle Asset Management Inc. raised its stake in shares of Wells Fargo & Company by 27.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 12,513 shares of the financial services provider’s stock valued at $511,000 after buying an additional 2,721 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in shares of Wells Fargo & Company by 6.4% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 13,953 shares of the financial services provider’s stock worth $570,000 after acquiring an additional 842 shares during the period. Pegasus Partners Ltd. raised its position in Wells Fargo & Company by 34.2% in the third quarter. Pegasus Partners Ltd. now owns 7,091 shares of the financial services provider’s stock worth $290,000 after purchasing an additional 1,807 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in Wells Fargo & Company by 95.8% during the third quarter. Parkside Financial Bank & Trust now owns 9,800 shares of the financial services provider’s stock worth $400,000 after purchasing an additional 4,796 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Morgan Stanley increased their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Citigroup restated a “neutral” rating and issued a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. HSBC lifted their price target on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, March 28th. Finally, The Goldman Sachs Group upped their price objective on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Fourteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $59.15.

Get Our Latest Analysis on WFC

Wells Fargo & Company Trading Down 1.0 %

Shares of WFC stock traded down $0.57 during trading hours on Tuesday, reaching $58.44. The company had a trading volume of 4,441,509 shares, compared to its average volume of 18,214,982. Wells Fargo & Company has a 1-year low of $38.38 and a 1-year high of $62.55. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a market cap of $203.74 billion, a price-to-earnings ratio of 12.15, a P/E/G ratio of 1.43 and a beta of 1.17. The company has a 50 day moving average of $59.58 and a 200 day moving average of $54.84.

Wells Fargo & Company (NYSE:WFCGet Free Report) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business earned $1.23 earnings per share. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

About Wells Fargo & Company

(Free Report)

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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

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