World Asset Management Inc Trims Stock Position in Wells Fargo & Company (NYSE:WFC)

World Asset Management Inc lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 4.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 189,187 shares of the financial services provider’s stock after selling 9,315 shares during the period. Wells Fargo & Company makes up 0.8% of World Asset Management Inc’s holdings, making the stock its 16th largest holding. World Asset Management Inc’s holdings in Wells Fargo & Company were worth $8,568,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. Holderness Investments Co. lifted its holdings in shares of Wells Fargo & Company by 0.8% in the 2nd quarter. Holderness Investments Co. now owns 26,077 shares of the financial services provider’s stock worth $1,181,000 after acquiring an additional 215 shares during the last quarter. Jacobi Capital Management LLC lifted its holdings in shares of Wells Fargo & Company by 1.4% in the 1st quarter. Jacobi Capital Management LLC now owns 16,679 shares of the financial services provider’s stock worth $652,000 after acquiring an additional 236 shares during the last quarter. Usca Ria LLC lifted its holdings in shares of Wells Fargo & Company by 0.4% in the 2nd quarter. Usca Ria LLC now owns 67,013 shares of the financial services provider’s stock worth $3,035,000 after acquiring an additional 242 shares during the last quarter. One Capital Management LLC lifted its holdings in shares of Wells Fargo & Company by 0.6% in the 1st quarter. One Capital Management LLC now owns 38,403 shares of the financial services provider’s stock worth $1,500,000 after acquiring an additional 245 shares during the last quarter. Finally, Sargent Bickham Lagudis LLC lifted its holdings in shares of Wells Fargo & Company by 12.2% in the 2nd quarter. Sargent Bickham Lagudis LLC now owns 2,511 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 274 shares during the last quarter. 70.82% of the stock is owned by institutional investors.

A number of equities research analysts recently commented on WFC shares. Bank of America upgraded shares of Wells Fargo & Company from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a report on Friday, June 4th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Wells Fargo & Company from $48.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, September 1st. Barclays upped their price target on shares of Wells Fargo & Company from $46.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday, July 15th. UBS Group reiterated a “neutral” rating and set a $47.00 price target (up from $40.00) on shares of Wells Fargo & Company in a report on Tuesday, May 25th. Finally, Raymond James upped their price target on shares of Wells Fargo & Company from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, August 26th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Buy” and a consensus price target of $47.52.

Shares of NYSE:WFC traded up $0.08 during midday trading on Wednesday, reaching $46.13. The company’s stock had a trading volume of 424,924 shares, compared to its average volume of 30,603,697. The firm has a 50 day moving average of $46.23 and a 200-day moving average of $44.24. The firm has a market capitalization of $189.43 billion, a P/E ratio of 13.19, a PEG ratio of 0.99 and a beta of 1.36. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 1.04. Wells Fargo & Company has a 12-month low of $20.76 and a 12-month high of $51.41.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, July 13th. The financial services provider reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.40. The firm had revenue of $20.27 billion for the quarter, compared to the consensus estimate of $17.69 billion. Wells Fargo & Company had a net margin of 19.79% and a return on equity of 9.85%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.66) EPS. On average, research analysts predict that Wells Fargo & Company will post 4.37 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Friday, August 6th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.73%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, August 5th. Wells Fargo & Company’s dividend payout ratio is 145.45%.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance. It firm operates through the following segments: Community Banking, Wholesale Banking, Wealth & Investment Management, and Other.

See Also: Hold Rating

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC).

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

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World Asset Management Inc Trims Stock Position in Wells Fargo & Company (NYSE:WFC)

World Asset Management Inc lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 4.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 189,187 shares of the financial services provider’s stock after selling 9,315 shares during the period. Wells Fargo & Company makes up 0.8% of World Asset Management Inc’s holdings, making the stock its 16th largest holding. World Asset Management Inc’s holdings in Wells Fargo & Company were worth $8,568,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. Holderness Investments Co. lifted its holdings in shares of Wells Fargo & Company by 0.8% in the 2nd quarter. Holderness Investments Co. now owns 26,077 shares of the financial services provider’s stock worth $1,181,000 after acquiring an additional 215 shares during the last quarter. Jacobi Capital Management LLC lifted its holdings in shares of Wells Fargo & Company by 1.4% in the 1st quarter. Jacobi Capital Management LLC now owns 16,679 shares of the financial services provider’s stock worth $652,000 after acquiring an additional 236 shares during the last quarter. Usca Ria LLC lifted its holdings in shares of Wells Fargo & Company by 0.4% in the 2nd quarter. Usca Ria LLC now owns 67,013 shares of the financial services provider’s stock worth $3,035,000 after acquiring an additional 242 shares during the last quarter. One Capital Management LLC lifted its holdings in shares of Wells Fargo & Company by 0.6% in the 1st quarter. One Capital Management LLC now owns 38,403 shares of the financial services provider’s stock worth $1,500,000 after acquiring an additional 245 shares during the last quarter. Finally, Sargent Bickham Lagudis LLC lifted its holdings in shares of Wells Fargo & Company by 12.2% in the 2nd quarter. Sargent Bickham Lagudis LLC now owns 2,511 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 274 shares during the last quarter. 70.82% of the stock is owned by institutional investors.

A number of equities research analysts recently commented on WFC shares. Raymond James upped their price target on shares of Wells Fargo & Company from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, August 26th. TheStreet lowered shares of Wells Fargo & Company from a “b” rating to a “c+” rating in a report on Friday, July 30th. Keefe, Bruyette & Woods started coverage on shares of Wells Fargo & Company in a report on Wednesday, July 7th. They set an “outperform” rating and a $57.00 price target for the company. Compass Point upped their price target on shares of Wells Fargo & Company from $46.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, May 18th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Wells Fargo & Company from $48.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, September 1st. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Buy” and a consensus price target of $47.52.

Shares of NYSE:WFC traded up $0.08 during midday trading on Wednesday, reaching $46.13. The company’s stock had a trading volume of 424,924 shares, compared to its average volume of 30,603,697. The firm has a 50 day moving average of $46.23 and a 200-day moving average of $44.24. The firm has a market capitalization of $189.43 billion, a P/E ratio of 13.19, a PEG ratio of 0.99 and a beta of 1.36. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 1.04. Wells Fargo & Company has a 12-month low of $20.76 and a 12-month high of $51.41.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, July 13th. The financial services provider reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.40. The firm had revenue of $20.27 billion for the quarter, compared to the consensus estimate of $17.69 billion. Wells Fargo & Company had a net margin of 19.79% and a return on equity of 9.85%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.66) EPS. On average, research analysts predict that Wells Fargo & Company will post 4.37 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Friday, August 6th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.73%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, August 5th. Wells Fargo & Company’s dividend payout ratio is 145.45%.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance. It firm operates through the following segments: Community Banking, Wholesale Banking, Wealth & Investment Management, and Other.

See Also: Hold Rating

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC).

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

Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.