Carrera Capital Advisors Sells 141 Shares of Wells Fargo & Company $WFC

Carrera Capital Advisors lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,970 shares of the financial services provider’s stock after selling 141 shares during the quarter. Carrera Capital Advisors’ holdings in Wells Fargo & Company were worth $799,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WFC. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of 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 worth $76,095,550,000 after acquiring an additional 949,735,001 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in 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 buying an additional 7,894,919 shares during the period. Strs Ohio bought a new position in Wells Fargo & Company during the first quarter valued at about $109,643,000. Canada Pension Plan Investment Board grew its position in 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 buying an additional 1,365,629 shares during the period. Finally, Principal Financial Group Inc. grew its position in 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 buying an additional 1,152,181 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 2.2%

Shares of NYSE WFC opened at $86.35 on Friday. Wells Fargo & Company has a one year low of $58.42 and a one year high of $87.47. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. The firm’s 50 day simple moving average is $81.89 and its two-hundred day simple moving average is $77.61. The stock has a market capitalization of $276.61 billion, a P/E ratio of 14.20, a PEG ratio of 1.16 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.11 billion. During the same period last year, the business earned $1.42 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were given a dividend of $0.45 per share. 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 2.1%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.61%.

Analyst Ratings Changes

WFC has been the topic of several recent research reports. Citigroup upped their price objective on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Raymond James Financial downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 7th. The Goldman Sachs Group lowered their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Keefe, Bruyette & Woods lifted their target price on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, October 15th. Finally, Dbs Bank upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday. Eleven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.57.

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.