Penserra Capital Management LLC lowered its position in shares of Wells Fargo & Co (NYSE:WFC) by 93.9% in the fourth quarter, Holdings Channel reports. The firm owned 1,588 shares of the financial services provider’s stock after selling 24,401 shares during the period. Penserra Capital Management LLC’s holdings in Wells Fargo & Co were worth $84,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WFC. Boston Partners grew its holdings in shares of Wells Fargo & Co by 7.2% during the third quarter. Boston Partners now owns 21,203,872 shares of the financial services provider’s stock worth $1,069,832,000 after purchasing an additional 1,417,096 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in Wells Fargo & Co by 2.5% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,190,409 shares of the financial services provider’s stock worth $1,086,244,000 after buying an additional 488,783 shares in the last quarter. Sanders Capital LLC boosted its holdings in Wells Fargo & Co by 13.0% during the fourth quarter. Sanders Capital LLC now owns 19,987,319 shares of the financial services provider’s stock worth $1,190,684,000 after buying an additional 2,304,769 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in Wells Fargo & Co by 6.9% during the third quarter. Parametric Portfolio Associates LLC now owns 12,370,499 shares of the financial services provider’s stock worth $623,968,000 after buying an additional 796,884 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its holdings in Wells Fargo & Co by 264.5% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 10,660,597 shares of the financial services provider’s stock worth $573,541,000 after buying an additional 7,736,141 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

In related news, Director Charles H. Noski bought 20,000 shares of the company’s stock in a transaction on Friday, March 13th. The stock was bought at an average cost of $29.53 per share, with a total value of $590,600.00. Following the completion of the purchase, the director now owns 74 shares in the company, valued at approximately $2,185.22. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Charles W. Scharf bought 173,000 shares of the company’s stock in a transaction on Friday, March 13th. The stock was bought at an average cost of $28.69 per share, with a total value of $4,963,370.00. Following the completion of the purchase, the chief executive officer now owns 176,916 shares of the company’s stock, valued at approximately $5,075,720.04. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

A number of equities research analysts have issued reports on WFC shares. Barclays downgraded shares of Wells Fargo & Co from an “overweight” rating to an “equal weight” rating and set a $59.00 target price for the company. in a research report on Monday, January 6th. Citigroup cut their target price on shares of Wells Fargo & Co from $58.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, March 6th. Cfra upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating and cut their target price for the stock from $48.00 to $42.00 in a research report on Wednesday, March 4th. Zacks Investment Research upgraded shares of Wells Fargo & Co from a “strong sell” rating to a “hold” rating and set a $23.00 target price for the company in a research report on Tuesday, March 17th. Finally, UBS Group cut their target price on shares of Wells Fargo & Co from $52.00 to $49.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and one has given a buy rating to the company’s stock. Wells Fargo & Co has a consensus rating of “Hold” and a consensus target price of $46.42.

WFC stock traded up $1.93 during trading on Thursday, hitting $30.90. 45,133,530 shares of the stock traded hands, compared to its average volume of 32,404,553. Wells Fargo & Co has a one year low of $25.10 and a one year high of $54.75. The stock has a market cap of $118.27 billion, a price-to-earnings ratio of 7.69, a P/E/G ratio of 0.72 and a beta of 1.14. The company has a 50 day simple moving average of $39.99 and a 200 day simple moving average of $48.49. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings results on Tuesday, January 14th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.17). Wells Fargo & Co had a net margin of 18.81% and a return on equity of 12.11%. The firm had revenue of $19.86 billion for the quarter, compared to the consensus estimate of $20.11 billion. During the same period in the prior year, the business earned $1.21 earnings per share. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, analysts predict that Wells Fargo & Co will post 3.77 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Friday, February 7th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 6.60%. The ex-dividend date was Thursday, February 6th. Wells Fargo & Co’s dividend payout ratio is currently 46.58%.

About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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