Andra AP fonden Has $35.01 Million Stock Position in Wells Fargo & Company $WFC

Key Points

• Andra AP fonden increased its Wells Fargo stake by 11.4% in the first quarter, buying 44,900 more shares and bringing its total to 439,700 shares worth about $35.0 million.
• Several other institutional investors also added to or adjusted their Wells Fargo holdings, and institutions and hedge funds now own 75.9% of the bank’s stock.
• Wells Fargo recently paid a $0.45 quarterly dividend and currently offers an annualized yield of about 2.1%; analysts maintain a Moderate Buy consensus with a target price of $98.50.

Andra AP fonden raised its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 11.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 439,700 shares of the financial services provider's stock after purchasing an additional 44,900 shares during the quarter. Andra AP fonden's holdings in Wells Fargo & Company were worth $35,005,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Diversified Trust Co. raised its position in Wells Fargo & Company by 59.7% in the 4th quarter. Diversified Trust Co. now owns 35,285 shares of the financial services provider's stock valued at $3,289,000 after buying an additional 13,196 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Wells Fargo & Company by 19.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 532,300 shares of the financial services provider's stock worth $49,610,000 after acquiring an additional 84,902 shares during the last quarter. Swiss Life Asset Management Ltd grew its stake in shares of Wells Fargo & Company by 4.2% in the 4th quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider's stock worth $32,673,000 after acquiring an additional 14,168 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Wells Fargo & Company by 4.4% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider's stock worth $38,446,000 after acquiring an additional 17,302 shares in the last quarter. Finally, Winning Points Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $3,384,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $86.24 on Tuesday. The firm has a market cap of $263.90 billion, a P/E ratio of 12.53, a price-to-earnings-growth ratio of 0.96 and a beta of 0.92. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09. The company's 50 day moving average is $81.70 and its 200-day moving average is $83.63. Wells Fargo & Company has a 12-month low of $72.78 and a 12-month high of $97.76.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were given a $0.45 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. Wells Fargo & Company's payout ratio is 26.16%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Wells Fargo & Company in a research report on Friday. Jefferies Financial Group initiated coverage on Wells Fargo & Company in a research note on Thursday, March 26th. They issued a "buy" rating and a $100.00 price objective for the company. Wall Street Zen upgraded Wells Fargo & Company from a "sell" rating to a "hold" rating in a research note on Sunday, June 14th. Phillip Securities upgraded shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Finally, UBS Group lowered their price objective on shares of Wells Fargo & Company from $105.00 to $104.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.50.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

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