Cornerstone Capital Management Holdings LLC. decreased its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 3.1% during the 3rd quarter, Holdings Channel reports. The firm owned 1,507,846 shares of the financial services provider’s stock after selling 47,439 shares during the period. Wells Fargo & Co makes up approximately 0.7% of Cornerstone Capital Management Holdings LLC.’s portfolio, making the stock its 25th largest position. Cornerstone Capital Management Holdings LLC.’s holdings in Wells Fargo & Co were worth $83,156,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in WFC. Rockland Trust Co. boosted its holdings in shares of Wells Fargo & Co by 0.6% during the 2nd quarter. Rockland Trust Co. now owns 316,530 shares of the financial services provider’s stock worth $17,539,000 after buying an additional 1,856 shares during the period. Heartland Advisors Inc. boosted its holdings in shares of Wells Fargo & Co by 3.9% during the 2nd quarter. Heartland Advisors Inc. now owns 272,548 shares of the financial services provider’s stock worth $15,102,000 after buying an additional 10,318 shares during the period. Personal Capital Advisors Corp boosted its holdings in shares of Wells Fargo & Co by 5.0% during the 3rd quarter. Personal Capital Advisors Corp now owns 554,429 shares of the financial services provider’s stock worth $30,577,000 after buying an additional 26,614 shares during the period. New Jersey Better Educational Savings Trust boosted its holdings in shares of Wells Fargo & Co by 10.0% during the 2nd quarter. New Jersey Better Educational Savings Trust now owns 33,000 shares of the financial services provider’s stock worth $1,829,000 after buying an additional 3,000 shares during the period. Finally, Sage Capital Advisors llc bought a new stake in shares of Wells Fargo & Co during the 2nd quarter worth $2,423,000. Institutional investors own 76.20% of the company’s stock.

WFC has been the subject of several recent analyst reports. Sandler O’Neill raised shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and upped their price objective for the stock from $62.04 to $73.00 in a report on Tuesday, January 9th. Zacks Investment Research raised shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Saturday. Vetr downgraded shares of Wells Fargo & Co from a “hold” rating to a “sell” rating and set a $54.49 price objective for the company. in a report on Thursday, November 2nd. Royal Bank of Canada downgraded shares of Wells Fargo & Co from an “outperform” rating to an “underperform” rating in a report on Monday, February 5th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $60.00 price target on shares of Wells Fargo & Co in a report on Monday, February 5th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $76.34.

Wells Fargo & Co (NYSE:WFC) opened at $56.13 on Friday. The company has a market cap of $280,040.00, a PE ratio of 13.59, a PEG ratio of 1.45 and a beta of 1.01. Wells Fargo & Co has a 1-year low of $49.27 and a 1-year high of $66.31. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). The business had revenue of $22.05 billion for the quarter, compared to the consensus estimate of $22.64 billion. Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. Wells Fargo & Co’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.96 earnings per share. research analysts anticipate that Wells Fargo & Co will post 4.72 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Thursday, February 1st. Wells Fargo & Co’s payout ratio is 37.77%.

Wells Fargo & Co announced that its Board of Directors has initiated a share repurchase program on Tuesday, January 23rd that permits the company to buyback 350,000,000 shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

In related news, insider Michael J. Loughlin sold 17,482 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $57.80, for a total transaction of $1,010,459.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard Levy sold 97,000 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. Insiders have sold a total of 184,482 shares of company stock valued at $10,471,050 over the last ninety days. 0.22% of the stock is owned by insiders.

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

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