Achmea Investment Management B.V. Raises Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Achmea Investment Management B.V. raised its holdings in Wells Fargo & Company (NYSE:WFC) by 19.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,844 shares of the financial services provider's stock after purchasing an additional 49,178 shares during the quarter. Achmea Investment Management B.V.'s holdings in Wells Fargo & Company were worth $21,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Jaffetilchin Investment Partners LLC boosted its stake in Wells Fargo & Company by 1.7% in the first quarter. Jaffetilchin Investment Partners LLC now owns 22,873 shares of the financial services provider's stock valued at $1,642,000 after acquiring an additional 372 shares during the last quarter. Artemis Investment Management LLP lifted its stake in Wells Fargo & Company by 26.9% in the first quarter. Artemis Investment Management LLP now owns 1,744,072 shares of the financial services provider's stock valued at $125,207,000 after purchasing an additional 369,260 shares during the last quarter. Holistic Planning LLC grew its holdings in Wells Fargo & Company by 3.8% during the first quarter. Holistic Planning LLC now owns 7,513 shares of the financial services provider's stock valued at $539,000 after purchasing an additional 275 shares during the period. PDS Planning Inc increased its position in Wells Fargo & Company by 17.3% in the first quarter. PDS Planning Inc now owns 11,870 shares of the financial services provider's stock worth $852,000 after buying an additional 1,754 shares during the last quarter. Finally, Investment Advisory Services Inc. TX ADV bought a new stake in shares of Wells Fargo & Company in the first quarter valued at $201,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on WFC shares. Bank of America boosted their price objective on Wells Fargo & Company from $83.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Evercore ISI upped their price target on shares of Wells Fargo & Company from $72.00 to $88.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. TD Cowen assumed coverage on shares of Wells Fargo & Company in a report on Thursday, May 15th. They issued a "hold" rating and a $83.00 price objective for the company. Raymond James Financial reissued a "strong-buy" rating on shares of Wells Fargo & Company in a report on Wednesday, June 18th. Finally, Citigroup reduced their price target on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $77.98.

Wells Fargo & Company Stock Up 1.2%

Shares of NYSE:WFC opened at $80.02 on Friday. The stock has a market capitalization of $260.39 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 1.32 and a beta of 1.16. The stock's 50-day moving average price is $73.58 and its 200-day moving average price is $73.01. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.16. The firm had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. Wells Fargo & Company had a return on equity of 12.15% and a net margin of 16.19%. The business's revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.20 earnings per share. On average, equities analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.00%. Wells Fargo & Company's dividend payout ratio is currently 28.73%.

Wells Fargo & Company declared that its board has initiated a share repurchase plan on Tuesday, April 29th that permits the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 17.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

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.

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