Symmetry Partners LLC Sells 2,096 Shares of Wells Fargo & Company (NYSE:WFC)

Symmetry Partners LLC cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 11.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,774 shares of the financial services provider’s stock after selling 2,096 shares during the quarter. Symmetry Partners LLC’s holdings in Wells Fargo & Company were worth $996,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Meeder Asset Management Inc. increased its stake in Wells Fargo & Company by 35.8% in the fourth quarter. Meeder Asset Management Inc. now owns 7,300 shares of the financial services provider’s stock valued at $359,000 after purchasing an additional 1,923 shares in the last quarter. Strategic Blueprint LLC raised its holdings in Wells Fargo & Company by 8.3% during the 4th quarter. Strategic Blueprint LLC now owns 5,602 shares of the financial services provider’s stock valued at $276,000 after acquiring an additional 429 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Wells Fargo & Company by 52.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 367,184 shares of the financial services provider’s stock worth $18,073,000 after purchasing an additional 126,045 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in Wells Fargo & Company during the fourth quarter valued at approximately $240,000. Finally, Sequoia Financial Advisors LLC grew its stake in Wells Fargo & Company by 166.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 82,461 shares of the financial services provider’s stock worth $4,059,000 after buying an additional 51,484 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WFC has been the subject of several research reports. Keefe, Bruyette & Woods decreased their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, July 15th. Evercore ISI restated an “outperform” rating and issued a $67.00 price target (down previously from $70.00) on shares of Wells Fargo & Company in a research note on Monday, July 15th. Jefferies Financial Group increased their price objective on Wells Fargo & Company from $62.00 to $64.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. boosted their target price on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Thirteen equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $59.91.

Wells Fargo & Company Trading Down 0.5 %

WFC traded down $0.29 on Friday, hitting $52.47. The company had a trading volume of 5,604,379 shares, compared to its average volume of 18,160,189. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55. The firm has a market cap of $182.93 billion, a P/E ratio of 10.82, a PEG ratio of 1.40 and a beta of 1.17. The company’s fifty day moving average price is $58.31 and its 200 day moving average price is $56.96. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. The company had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. Wells Fargo & Company’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 EPS. As a group, equities analysts expect that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Friday, August 9th will be given a dividend of $0.40 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, August 9th. Wells Fargo & Company’s payout ratio is currently 32.85%.

Wells Fargo & Company Company Profile

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.