Wells Fargo & Co (NYSE:WFC) Stake Lifted by Public Employees Retirement Association of Colorado

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Public Employees Retirement Association of Colorado lifted its holdings in Wells Fargo & Co (NYSE:WFC) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 839,524 shares of the financial services provider’s stock after acquiring an additional 23,573 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Wells Fargo & Co were worth $40,566,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in WFC. Diamond Hill Capital Management Inc. raised its position in Wells Fargo & Co by 17.4% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 970,732 shares of the financial services provider’s stock worth $46,906,000 after purchasing an additional 144,010 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in Wells Fargo & Co by 4.4% in the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 6,469 shares of the financial services provider’s stock worth $318,000 after purchasing an additional 270 shares during the last quarter. Fidelity National Financial Inc. bought a new position in Wells Fargo & Co in the 1st quarter worth approximately $10,147,000. Janus Henderson Group PLC raised its position in Wells Fargo & Co by 0.6% in the 1st quarter. Janus Henderson Group PLC now owns 4,104,865 shares of the financial services provider’s stock worth $198,352,000 after purchasing an additional 25,997 shares during the last quarter. Finally, Hengehold Capital Management LLC raised its position in Wells Fargo & Co by 3.9% in the 1st quarter. Hengehold Capital Management LLC now owns 45,424 shares of the financial services provider’s stock worth $2,195,000 after purchasing an additional 1,686 shares during the last quarter. 75.38% of the stock is currently owned by institutional investors and hedge funds.

Shares of Wells Fargo & Co stock opened at $44.91 on Thursday. The firm has a market cap of $207.91 billion, a price-to-earnings ratio of 10.25, a price-to-earnings-growth ratio of 0.88 and a beta of 1.09. Wells Fargo & Co has a 52 week low of $43.02 and a 52 week high of $59.53. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.88 and a quick ratio of 0.87.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.08 by $0.12. The company had revenue of $21.61 billion during the quarter, compared to analysts’ expectations of $20.89 billion. Wells Fargo & Co had a net margin of 22.59% and a return on equity of 13.37%. During the same quarter in the previous year, the company posted $0.96 EPS. As a group, sell-side analysts forecast that Wells Fargo & Co will post 4.73 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Co’s payout ratio is 41.10%.

In other Wells Fargo & Co news, insider Petros G. Pelos sold 28,304 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $46.51, for a total transaction of $1,316,419.04. Following the completion of the sale, the insider now owns 3,066 shares in the company, valued at approximately $142,599.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.08% of the company’s stock.

WFC has been the subject of several research analyst reports. Bank of America cut shares of Wells Fargo & Co from a “buy” rating to a “neutral” rating in a research report on Monday, April 15th. ValuEngine upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Tuesday, March 19th. Raymond James restated a “hold” rating on shares of Wells Fargo & Co in a research report on Friday, April 12th. Buckingham Research cut shares of Wells Fargo & Co from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $65.00 to $53.00 in a research report on Monday, April 15th. Finally, Barclays dropped their price objective on shares of Wells Fargo & Co from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. Wells Fargo & Co has an average rating of “Hold” and an average price target of $55.39.

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About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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