Clarius Group LLC Sells 2,311 Shares of Wells Fargo & Company $WFC

Clarius Group LLC lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 12.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,566 shares of the financial services provider’s stock after selling 2,311 shares during the quarter. Clarius Group LLC’s holdings in Wells Fargo & Company were worth $1,327,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Accretive Wealth Partners LLC acquired a new position in shares of Wells Fargo & Company in the 1st quarter valued at approximately $399,000. Banco Bilbao Vizcaya Argentaria S.A. grew its position in shares of Wells Fargo & Company by 10.4% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock valued at $54,471,000 after purchasing an additional 71,740 shares during the period. Secured Retirement Advisors LLC acquired a new position in shares of Wells Fargo & Company in the 1st quarter valued at approximately $408,000. RKL Wealth Management LLC grew its position in shares of Wells Fargo & Company by 166.4% in the 1st quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider’s stock valued at $588,000 after purchasing an additional 5,113 shares during the period. Finally, Allianz SE grew its position in shares of Wells Fargo & Company by 22.6% in the 1st quarter. Allianz SE now owns 212,335 shares of the financial services provider’s stock valued at $15,244,000 after purchasing an additional 39,150 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on WFC shares. Evercore ISI upped their price objective on Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research report on Tuesday. Phillip Securities cut Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wells Fargo & Company in a research report on Saturday, September 27th. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Morgan Stanley cut Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $87.00 to $90.00 in a research report on Monday, September 29th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus target price of $83.74.

Wells Fargo & Company Stock Performance

WFC opened at $80.63 on Friday. Wells Fargo & Company has a 52-week low of $55.98 and a 52-week high of $86.65. The firm has a market capitalization of $258.28 billion, a PE ratio of 13.81, a PEG ratio of 1.24 and a beta of 1.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The business’s 50-day simple moving average is $80.77 and its 200 day simple moving average is $76.31.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The business had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same quarter in the prior year, the company posted $1.33 earnings per share. Wells Fargo & Company’s revenue was up .6% on a year-over-year basis. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share 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. Investors of record on Friday, August 8th were issued a dividend of $0.45 per share. The ex-dividend date was Friday, August 8th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.2%. Wells Fargo & Company’s dividend payout ratio is currently 30.82%.

About Wells Fargo & Company

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.