Clarendon Private LLC Purchases 1,703 Shares of Wells Fargo & Company $WFC

Clarendon Private LLC increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 12.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,972 shares of the financial services provider’s stock after buying an additional 1,703 shares during the period. Wells Fargo & Company accounts for about 1.2% of Clarendon Private LLC’s portfolio, making the stock its 20th largest holding. Clarendon Private LLC’s holdings in Wells Fargo & Company were worth $1,200,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of WFC. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Wells Fargo & Company by 2,735,254.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after buying an additional 949,735,001 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Wells Fargo & Company by 277.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock worth $771,092,000 after buying an additional 7,894,919 shares during the period. Strs Ohio bought a new stake in shares of Wells Fargo & Company during the 1st quarter worth about $109,643,000. Canada Pension Plan Investment Board boosted its holdings in shares of Wells Fargo & Company by 34.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock worth $381,016,000 after buying an additional 1,365,629 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Wells Fargo & Company by 30.5% during the 1st quarter. Principal Financial Group Inc. now owns 4,926,423 shares of the financial services provider’s stock worth $353,668,000 after buying an additional 1,152,181 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Evercore ISI lifted their target price on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Morgan Stanley downgraded shares of Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $87.00 to $90.00 in a report on Monday, September 29th. Phillip Securities downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Finally, UBS Group cut their price objective on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Nine 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 presently has a consensus rating of “Moderate Buy” and an average price target of $85.41.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $77.74 on Friday. The firm has a 50 day moving average of $80.63 and a 200-day moving average of $76.53. The stock has a market capitalization of $249.04 billion, a PE ratio of 13.31, a PEG ratio of 1.25 and a beta of 1.25. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $86.65.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.41 by $0.13. The company had revenue of $20.82 billion during the quarter, compared to analysts’ expectations of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.33 EPS. On average, equities research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

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

Wells Fargo & Company 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.