Asset Management One Co. Ltd. Boosts Stock Position in Wells Fargo & Company (NYSE:WFC)

Asset Management One Co. Ltd. grew its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,397,591 shares of the financial services provider's stock after purchasing an additional 59,718 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Wells Fargo & Company were worth $100,333,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Modera Wealth Management LLC increased its holdings in Wells Fargo & Company by 14.1% during the fourth quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider's stock worth $1,444,000 after buying an additional 2,548 shares during the last quarter. Cornerstone Advisors LLC grew its position in shares of Wells Fargo & Company by 2.1% during the 4th quarter. Cornerstone Advisors LLC now owns 204,200 shares of the financial services provider's stock valued at $14,343,000 after acquiring an additional 4,200 shares during the period. Metis Global Partners LLC increased its stake in shares of Wells Fargo & Company by 4.0% during the 4th quarter. Metis Global Partners LLC now owns 172,335 shares of the financial services provider's stock worth $12,105,000 after purchasing an additional 6,668 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Wells Fargo & Company by 12.1% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 651,808 shares of the financial services provider's stock worth $45,783,000 after purchasing an additional 70,104 shares during the period. Finally, Marble Harbor Investment Counsel LLC lifted its stake in Wells Fargo & Company by 4.2% in the fourth quarter. Marble Harbor Investment Counsel LLC now owns 130,504 shares of the financial services provider's stock valued at $9,167,000 after purchasing an additional 5,215 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $77.02 on Tuesday. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.06. The company has a market cap of $250.64 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 1.26 and a beta of 1.16. The stock has a 50-day moving average price of $72.70 and a 200-day moving average price of $72.88.

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

Wells Fargo & Company announced that its Board of Directors has initiated a stock buyback program on Tuesday, April 29th that permits the company to buyback $40.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 17.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were paid a $0.40 dividend. 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 2.08%. Wells Fargo & Company's dividend payout ratio is presently 28.73%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WFC. TD Cowen initiated coverage on Wells Fargo & Company in a research note on Thursday, May 15th. They issued a "hold" rating and a $83.00 target price on the stock. Barclays dropped their price objective on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group lifted their target price on shares of Wells Fargo & Company from $76.00 to $86.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Evercore ISI boosted 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 report on Wednesday, June 4th. Finally, Phillip Securities raised shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, April 14th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.98.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.