Wells Fargo & Company $WFC Shares Sold by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC reduced its stake in Wells Fargo & Company (NYSE:WFC) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,617 shares of the financial services provider’s stock after selling 134 shares during the period. Revolve Wealth Partners LLC’s holdings in Wells Fargo & Company were worth $370,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in WFC. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Wells Fargo & Company by 2,735,254.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after purchasing an additional 949,735,001 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Wells Fargo & Company by 277.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock valued at $771,092,000 after acquiring an additional 7,894,919 shares in the last quarter. Strs Ohio acquired a new stake in shares of Wells Fargo & Company during the first quarter valued at about $109,643,000. Canada Pension Plan Investment Board grew its stake in shares of Wells Fargo & Company by 34.6% during the first quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock valued at $381,016,000 after acquiring an additional 1,365,629 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Wells Fargo & Company by 30.5% during the first quarter. Principal Financial Group Inc. now owns 4,926,423 shares of the financial services provider’s stock valued at $353,668,000 after acquiring an additional 1,152,181 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 1.7%

NYSE:WFC opened at $78.92 on Tuesday. The company has a market capitalization of $252.80 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 1.25 and a beta of 1.25. Wells Fargo & Company has a one year low of $58.42 and a one year high of $86.65. The stock has a 50-day simple moving average of $80.66 and a 200 day simple moving average of $76.61. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. The business had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm earned $1.33 earnings per share. Sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were paid a $0.45 dividend. The ex-dividend date was Friday, August 8th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. Wells Fargo & Company’s payout ratio is presently 30.82%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WFC. Cowen restated a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Raymond James Financial downgraded Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Phillip Securities downgraded Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Dbs Bank upgraded Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Finally, Morgan Stanley downgraded Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $87.00 to $90.00 in a research note on Monday, September 29th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.41.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.