PVG Asset Management Corp increased its position in shares of Wells Fargo & Co (NYSE:WFC) by 68.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 86,809 shares of the financial services provider’s stock after acquiring an additional 35,306 shares during the quarter. Wells Fargo & Co accounts for 2.1% of PVG Asset Management Corp’s portfolio, making the stock its 17th largest holding. PVG Asset Management Corp’s holdings in Wells Fargo & Co were worth $4,788,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Wells Fargo & Co by 1.2% in the second quarter. Vanguard Group Inc. now owns 314,755,460 shares of the financial services provider’s stock worth $17,440,601,000 after acquiring 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% in the second quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock worth $6,192,259,000 after acquiring 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% in the second quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock worth $2,511,614,000 after acquiring an additional 7,445,414 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Wells Fargo & Co by 17.8% in the third quarter. Dimensional Fund Advisors LP now owns 35,143,414 shares of the financial services provider’s stock worth $1,937,888,000 after acquiring an additional 5,305,125 shares during the last quarter. Finally, Davis Selected Advisers lifted its holdings in shares of Wells Fargo & Co by 1.9% in the second quarter. Davis Selected Advisers now owns 25,966,811 shares of the financial services provider’s stock worth $1,438,821,000 after acquiring an additional 472,585 shares during the last quarter. 76.00% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently commented on the stock. Morgan Stanley reissued an “average” rating and issued a $400.00 target price (up previously from $1.95) on shares of Wells Fargo & Co in a report on Tuesday, February 6th. Zacks Investment Research cut shares of Wells Fargo & Co from a “buy” rating to a “hold” rating in a report on Tuesday. UBS Group set a $63.00 target price on shares of Wells Fargo & Co and gave the stock a “hold” rating in a report on Monday, February 5th. Vetr raised shares of Wells Fargo & Co from a “strong sell” rating to a “sell” rating and set a $54.78 target price for the company in a report on Monday, February 5th. Finally, Royal Bank of Canada cut shares of Wells Fargo & Co from an “outperform” rating to an “underperform” rating in a report on Monday, February 5th. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $76.34.

In other Wells Fargo & Co news, VP Richard Levy sold 97,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total transaction of $5,477,590.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald Sargent bought 9,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were purchased at an average cost of $55.98 per share, with a total value of $503,820.00. Following the transaction, the director now directly owns 81 shares in the company, valued at approximately $4,534.38. The disclosure for this purchase can be found here. Insiders have sold a total of 184,482 shares of company stock valued at $10,471,050 in the last three months. Insiders own 0.22% of the company’s stock.

Shares of Wells Fargo & Co (WFC) opened at $59.55 on Thursday. The firm has a market cap of $293,240.00, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 1.48 and a beta of 1.01. 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 has a 52-week low of $49.27 and a 52-week high of $66.31.

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

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Thursday, February 1st. Wells Fargo & Co’s dividend payout ratio is presently 37.77%.

Wells Fargo & Co announced that its Board of Directors has approved a stock repurchase program on Tuesday, January 23rd that authorizes the company to buyback 350,000,000 shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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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.

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

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