Tredje AP fonden Has $91.25 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Tredje AP fonden grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,536,424 shares of the financial services provider’s stock after buying an additional 72,000 shares during the quarter. Wells Fargo & Company makes up 0.9% of Tredje AP fonden’s holdings, making the stock its 28th biggest holding. Tredje AP fonden’s holdings in Wells Fargo & Company were worth $91,248,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Core Wealth Advisors Inc. acquired a new position in Wells Fargo & Company in the 4th quarter worth about $25,000. Valued Wealth Advisors LLC increased its stake in shares of Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after buying an additional 220 shares during the period. Transcendent Capital Group LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $32,000. Beaird Harris Wealth Management LLC bought a new position in Wells Fargo & Company in the 4th quarter valued at approximately $34,000. Finally, J.Safra Asset Management Corp boosted its position in Wells Fargo & Company by 704.3% during the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock worth $43,000 after buying an additional 648 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Up 1.4 %

Shares of NYSE WFC opened at $54.54 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The firm has a market cap of $190.14 billion, a PE ratio of 11.20, a P/E/G ratio of 1.27 and a beta of 1.16. The company’s fifty day simple moving average is $56.39 and its 200 day simple moving average is $57.92. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. The firm had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 earnings per share. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.60 annualized dividend and a yield of 2.93%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio is presently 32.85%.

Wall Street Analysts Forecast Growth

WFC has been the subject of several analyst reports. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and dropped their price target for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Evercore ISI cut their target price on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, September 6th. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, September 3rd. BMO Capital Markets raised their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Finally, The Goldman Sachs Group reduced their target price on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Twelve research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $60.29.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.