Sarasin & Partners LLP Purchases 267,712 Shares of Wells Fargo & Company (WFC)
Sarasin & Partners LLP boosted its position in Wells Fargo & Company (NYSE:WFC) by 15.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,056,494 shares of the financial services provider’s stock after buying an additional 267,712 shares during the quarter. Wells Fargo & makes up about 2.2% of Sarasin & Partners LLP’s portfolio, making the stock its 18th biggest position. Sarasin & Partners LLP’s holdings in Wells Fargo & were worth $113,950,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Delphi Private Advisors LLC increased its position in shares of Wells Fargo & by 262.8% during the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 1,461 shares during the last quarter. Brick & Kyle Associates increased its position in shares of Wells Fargo & by 9.5% during the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 162 shares during the last quarter. Clear Investment Research LLC acquired a new position in shares of Wells Fargo & during the 2nd quarter worth approximately $121,000. Signature Estate & Investment Advisors LLC acquired a new position in shares of Wells Fargo & during the 1st quarter worth approximately $124,000. Finally, America First Investment Advisors LLC increased its position in shares of Wells Fargo & by 8.3% during the 2nd quarter. America First Investment Advisors LLC now owns 2,612 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 200 shares during the last quarter. 75.00% of the stock is currently owned by institutional investors and hedge funds.
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Several research analysts have weighed in on the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Wells Fargo & in a research report on Wednesday, August 16th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Wells Fargo & in a research report on Wednesday, October 11th. Vetr raised Wells Fargo & from a “sell” rating to a “hold” rating and set a $54.49 price target on the stock in a research report on Tuesday, October 24th. Vertical Group assumed coverage on Wells Fargo & in a research report on Friday, October 6th. They set a “sell” rating on the stock. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $57.00 price target on shares of Wells Fargo & in a research report on Tuesday, October 10th. Six research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $57.20.
Wells Fargo & Company (NYSE:WFC) opened at 56.14 on Wednesday. Wells Fargo & Company has a 12-month low of $44.49 and a 12-month high of $59.99. The stock’s 50 day moving average price is $54.33 and its 200-day moving average price is $53.56. The firm has a market cap of $276.65 billion, a PE ratio of 14.51 and a beta of 0.97.
Wells Fargo & (NYSE:WFC) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). The business had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $22.30 billion. Wells Fargo & had a net margin of 22.00% and a return on equity of 12.59%. Wells Fargo &’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 EPS. Equities research analysts anticipate that Wells Fargo & Company will post $3.95 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.78%. The ex-dividend date is Thursday, November 2nd. Wells Fargo &’s dividend payout ratio is 40.31%.
Wells Fargo & Profile
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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