Wells Fargo & Co (WFC) Shares Sold by Cynosure Management LLC

Cynosure Management LLC lessened its holdings in Wells Fargo & Co (NYSE:WFC) by 22.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 820,449 shares of the financial services provider’s stock after selling 244,000 shares during the period. Wells Fargo & Co makes up 24.6% of Cynosure Management LLC’s investment portfolio, making the stock its largest position. Cynosure Management LLC’s holdings in Wells Fargo & Co were worth $39,644,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Northern Trust Corp lifted its stake in Wells Fargo & Co by 0.9% during the 4th quarter. Northern Trust Corp now owns 52,682,537 shares of the financial services provider’s stock worth $2,427,611,000 after acquiring an additional 449,328 shares in the last quarter. Geode Capital Management LLC lifted its stake in Wells Fargo & Co by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 51,636,368 shares of the financial services provider’s stock worth $2,375,189,000 after acquiring an additional 2,114,810 shares in the last quarter. Norges Bank acquired a new position in Wells Fargo & Co during the 4th quarter worth about $2,004,580,000. Oregon Public Employees Retirement Fund lifted its stake in Wells Fargo & Co by 4,415.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,790,126 shares of the financial services provider’s stock worth $473,000 after acquiring an additional 21,307,608 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Wells Fargo & Co by 4.9% during the 4th quarter. Legal & General Group Plc now owns 20,391,629 shares of the financial services provider’s stock worth $939,635,000 after acquiring an additional 947,264 shares in the last quarter. 71.12% of the stock is currently owned by institutional investors and hedge funds.

WFC stock opened at $46.17 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $225.21 billion, a price-to-earnings ratio of 10.54, a P/E/G ratio of 0.88 and a beta of 1.09. Wells Fargo & Co has a 1 year low of $43.02 and a 1 year high of $59.53.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12. The company had revenue of $21.61 billion for the quarter, compared to analyst estimates of $20.89 billion. Wells Fargo & Co had a return on equity of 13.37% and a net margin of 22.59%. During the same quarter last year, the company earned $0.96 EPS. Equities analysts forecast that Wells Fargo & Co will post 4.73 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date is Thursday, May 9th. Wells Fargo & Co’s dividend payout ratio is currently 41.10%.

Several research firms recently issued reports on WFC. Goldman Sachs Group lowered Wells Fargo & Co from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $58.00 to $48.00 in a research note on Friday, April 12th. Morgan Stanley decreased their target price on Wells Fargo & Co from $55.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Monday, April 15th. Deutsche Bank decreased their target price on Wells Fargo & Co from $54.00 to $48.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Buckingham Research lowered Wells Fargo & Co from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $65.00 to $53.00 in a research note on Monday, April 15th. Finally, ValuEngine raised Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $56.22.

In other Wells Fargo & Co news, insider Petros G. Pelos sold 28,304 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $46.51, for a total value of $1,316,419.04. Following the sale, the insider now owns 3,066 shares of the company’s stock, valued at approximately $142,599.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by company insiders.

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Wells Fargo & Co Company Profile

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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