South Dakota Investment Council Sells 357,440 Shares of Wells Fargo & Company (NYSE:WFC)

South Dakota Investment Council reduced its position in shares of Wells Fargo & Company (NYSE:WFCGet Rating) by 18.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,578,187 shares of the financial services provider’s stock after selling 357,440 shares during the period. Wells Fargo & Company accounts for about 1.3% of South Dakota Investment Council’s investment portfolio, making the stock its 10th largest position. South Dakota Investment Council’s holdings in Wells Fargo & Company were worth $75,721,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in WFC. Capital World Investors acquired a new stake in shares of Wells Fargo & Company during the 3rd quarter worth about $1,046,312,000. Altshuler Shaham Ltd boosted its position in shares of Wells Fargo & Company by 738,917.8% in the third quarter. Altshuler Shaham Ltd now owns 5,557,414 shares of the financial services provider’s stock worth $308,897,000 after acquiring an additional 5,556,662 shares during the last quarter. Boston Partners boosted its position in shares of Wells Fargo & Company by 39.8% in the third quarter. Boston Partners now owns 15,675,969 shares of the financial services provider’s stock worth $727,759,000 after acquiring an additional 4,462,674 shares during the last quarter. Invesco Ltd. boosted its position in shares of Wells Fargo & Company by 7.1% in the third quarter. Invesco Ltd. now owns 41,077,680 shares of the financial services provider’s stock worth $1,906,415,000 after acquiring an additional 2,710,324 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Wells Fargo & Company by 145.7% in the fourth quarter. Nordea Investment Management AB now owns 4,452,780 shares of the financial services provider’s stock worth $214,268,000 after acquiring an additional 2,640,593 shares during the last quarter. 69.01% of the stock is currently owned by institutional investors.

Several equities research analysts recently issued reports on the stock. Argus raised their target price on shares of Wells Fargo & Company from $55.00 to $65.00 in a research report on Tuesday, January 18th. StockNews.com began coverage on shares of Wells Fargo & Company in a report on Thursday, March 31st. They issued a “hold” rating on the stock. JPMorgan Chase & Co. raised their price target on shares of Wells Fargo & Company from $57.00 to $58.50 in a report on Thursday, February 3rd. Morgan Stanley cut their price target on shares of Wells Fargo & Company from $72.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, March 28th. Finally, Raymond James cut their price target on shares of Wells Fargo & Company from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, April 18th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $58.78.

Wells Fargo & Company stock traded down $1.54 during mid-day trading on Friday, reaching $43.63. The company’s stock had a trading volume of 27,149,365 shares, compared to its average volume of 25,428,860. The firm has a market cap of $165.86 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 1.06 and a beta of 1.15. The business has a 50 day moving average price of $49.37 and a 200-day moving average price of $51.00. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.95. Wells Fargo & Company has a twelve month low of $41.47 and a twelve month high of $60.30.

Wells Fargo & Company (NYSE:WFCGet Rating) last released its quarterly earnings data on Thursday, April 14th. The financial services provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.08. Wells Fargo & Company had a net margin of 25.35% and a return on equity of 12.20%. The firm had revenue of $17.59 billion during the quarter, compared to the consensus estimate of $17.82 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. The firm’s revenue was down 5.2% on a year-over-year basis. On average, equities analysts expect that Wells Fargo & Company will post 4.12 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Friday, May 6th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Thursday, May 5th. Wells Fargo & Company’s dividend payout ratio (DPR) is 20.79%.

Wells Fargo & Company Company Profile (Get Rating)

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It 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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