Teacher Retirement System of Texas Sells 139,639 Shares of Wells Fargo & Company $WFC

Teacher Retirement System of Texas decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 9.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,291,959 shares of the financial services provider’s stock after selling 139,639 shares during the period. Teacher Retirement System of Texas’ holdings in Wells Fargo & Company were worth $103,512,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Yukon Wealth Management Inc. raised its position in Wells Fargo & Company by 4.3% during the 2nd quarter. Yukon Wealth Management Inc. now owns 3,179 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 132 shares during the last quarter. First Command Advisory Services Inc. grew its holdings in shares of Wells Fargo & Company by 6.2% during the 2nd quarter. First Command Advisory Services Inc. now owns 5,574 shares of the financial services provider’s stock worth $447,000 after acquiring an additional 323 shares during the period. MorganRosel Wealth Management LLC grew its holdings in shares of Wells Fargo & Company by 84.3% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,843 shares of the financial services provider’s stock worth $148,000 after acquiring an additional 843 shares during the period. Bolthouse Investments LLC purchased a new position in shares of Wells Fargo & Company during the 2nd quarter worth approximately $1,398,000. Finally, Resonant Capital Advisors LLC grew its holdings in shares of Wells Fargo & Company by 26.9% during the 2nd quarter. Resonant Capital Advisors LLC now owns 12,083 shares of the financial services provider’s stock worth $968,000 after acquiring an additional 2,559 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $86.35 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $276.61 billion, a P/E ratio of 14.20, a PEG ratio of 1.19 and a beta of 1.25. The stock’s 50 day moving average is $81.89 and its 200 day moving average is $77.80. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $87.47.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.11. The company had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.42 EPS. On average, equities research analysts predict 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 declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, August 8th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.61%.

Analysts Set New Price Targets

WFC has been the topic of a number of research analyst reports. TD Cowen upped their target price on Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. The Goldman Sachs Group reduced their target price on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Raymond James Financial downgraded Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 7th. Evercore ISI upped their target price on Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Finally, Citigroup upped their target price on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.57.

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.