Intermede Investment Partners Ltd boosted its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 35.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 810,291 shares of the financial services provider’s stock after acquiring an additional 212,775 shares during the quarter. Wells Fargo & Co accounts for about 4.1% of Intermede Investment Partners Ltd’s investment portfolio, making the stock its 12th largest holding. Intermede Investment Partners Ltd’s holdings in Wells Fargo & Co were worth $44,688,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Wells Fargo & Co by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 314,755,460 shares of the financial services provider’s stock valued at $17,440,601,000 after buying an additional 3,621,402 shares during the last quarter. Capital World Investors lifted its holdings in shares of Wells Fargo & Co by 10.8% during the 2nd quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock valued at $6,192,259,000 after buying an additional 10,927,679 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Wells Fargo & Co by 19.7% during the 2nd quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock valued at $2,511,614,000 after buying an additional 7,445,414 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Wells Fargo & Co by 26.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock valued at $1,653,464,000 after buying an additional 6,291,906 shares during the last quarter. Finally, Davis Selected Advisers lifted its holdings in shares of Wells Fargo & Co by 1.9% during the 2nd quarter. Davis Selected Advisers now owns 25,966,811 shares of the financial services provider’s stock valued at $1,438,821,000 after buying an additional 472,585 shares during the last quarter. Hedge funds and other institutional investors own 75.69% of the company’s stock.

Shares of Wells Fargo & Co (WFC) opened at $61.55 on Monday. The stock has a market capitalization of $303,383.72, a P/E ratio of 15.90, a PEG ratio of 1.91 and a beta of 0.96. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. Wells Fargo & Co has a 1 year low of $49.27 and a 1 year high of $62.24.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). The firm had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $22.30 billion. Wells Fargo & Co had a net margin of 21.23% and a return on equity of 9.33%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. analysts predict that Wells Fargo & Co will post 3.99 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 3rd were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date was Thursday, November 2nd. Wells Fargo & Co’s dividend payout ratio is presently 40.31%.

Several brokerages have recently issued reports on WFC. Zacks Investment Research upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating in a report on Tuesday, December 19th. Buckingham Research upgraded Wells Fargo & Co from a “neutral” rating to a “buy” rating and lifted their price target for the company from $57.00 to $75.00 in a report on Thursday. They noted that the move was a valuation call. Vertical Group upgraded Wells Fargo & Co from a “sell” rating to a “buy” rating in a report on Thursday, December 7th. Vetr upgraded Wells Fargo & Co from a “sell” rating to a “strong-buy” rating in a report on Monday, November 6th. Finally, Goldman Sachs Group restated a “buy” rating on shares of Wells Fargo & Co in a report on Wednesday, October 11th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $57.75.

In other news, VP Richard Levy sold 97,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total transaction of $5,477,590.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael J. Loughlin sold 17,482 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $57.80, for a total value of $1,010,459.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,482 shares of company stock worth $10,471,050. 0.22% of the stock is currently owned by company insiders.

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Wells Fargo & Co 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.

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

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