Brevan Howard Capital Management LP Has $19.82 Million Stake in Wells Fargo & Company $WFC

Key Points

• Brevan Howard slashed its stake in Wells Fargo by 84.5% in Q3, selling 1,286,593 shares and leaving it with 236,401 shares worth about $19.82 million.
• Wells Fargo beat EPS estimates in its last quarter (reported $1.76 vs. $1.66 expected) but missed revenue slightly; the stock has a market cap of ~$228.7B, a P/E of 11.82, and pays a quarterly dividend of $0.45 ( ~2.4% yield).
• Company insiders have been selling recently — two EVPs sold a combined 90,000 shares on Feb 26, insiders sold 115,000 shares (~$10.05M) over 90 days and now own just 0.08% of the stock.

Brevan Howard Capital Management LP lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 84.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 236,401 shares of the financial services provider's stock after selling 1,286,593 shares during the period. Brevan Howard Capital Management LP's holdings in Wells Fargo & Company were worth $19,815,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Hilton Capital Management LLC acquired a new position in Wells Fargo & Company during the second quarter valued at approximately $3,656,000. Mawer Investment Management Ltd. acquired a new stake in Wells Fargo & Company in the third quarter worth $147,165,000. Guerra Advisors Inc boosted its position in shares of Wells Fargo & Company by 43.2% during the third quarter. Guerra Advisors Inc now owns 38,439 shares of the financial services provider's stock worth $3,222,000 after purchasing an additional 11,594 shares in the last quarter. AlphaQuest LLC boosted its position in shares of Wells Fargo & Company by 1,121.0% during the third quarter. AlphaQuest LLC now owns 24,079 shares of the financial services provider's stock worth $2,018,000 after purchasing an additional 22,107 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Wells Fargo & Company by 52.7% in the 3rd quarter. UMB Bank n.a. now owns 138,862 shares of the financial services provider's stock valued at $11,639,000 after buying an additional 47,946 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $74.11 on Friday. The firm has a market cap of $228.67 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 0.81 and a beta of 1.08. The stock's 50-day moving average is $87.72 and its 200-day moving average is $86.50. Wells Fargo & Company has a one year low of $58.42 and a one year high of $97.76. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.90.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The business had revenue of $21.29 billion during the quarter, compared to the consensus estimate of $21.63 billion. During the same period last year, the company earned $1.43 earnings per share. Wells Fargo & Company's quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Friday, February 6th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, February 6th. Wells Fargo & Company's dividend payout ratio (DPR) is currently 28.71%.

Key Wells Fargo & Company News

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Technically deeply oversold and analyst support could spark a relief bounce — MarketBeat notes WFC is trading well below recent highs, its RSI is in oversold territory, and several outlets/analysts maintain Outperform/Buy ratings and high price targets that imply significant upside if sentiment stabilizes. Bargain Alert: Wells Fargo and Goldman Sachs Look Deeply Oversold
• Positive Sentiment: Strategic optionality in digital assets — filings show Wells Fargo has applied for a WFUSD trademark covering stablecoins and blockchain payment services, signaling a possible future new revenue stream (still speculative and regulatory-dependent). Wells Fargo Submits WFUSD Trademark Application
• Neutral Sentiment: Active analyst research flow — Wells Fargo analysts continue to move ratings/targets across sectors (cuts on Aptiv, upgrades in chemicals, positive calls on travel and retail names). This shows robust research activity that can influence trading in other names but is not directly catalytic for WFC’s fundamentals. Wells Fargo Cuts Aptiv Price Target Wells Fargo Upgrades Chemical Stocks
• Negative Sentiment: Earnings, revenue and operational concerns remain — MarketBeat highlights that WFC missed revenue/earnings expectations in January, has a relatively high efficiency ratio vs. peers, and saw headline risk from reported exposure to the failed U.K. mortgage finance firm Market Financial Solutions; those issues help explain selling pressure and could limit near-term multiple expansion. Bargain Alert: Wells Fargo and Goldman Sachs Look Deeply Oversold

Analyst Ratings Changes

WFC has been the subject of a number of recent analyst reports. HSBC restated a "hold" rating and issued a $74.00 price objective on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods boosted their target price on Wells Fargo & Company from $92.00 to $101.00 and gave the company a "market perform" rating in a research note on Wednesday, December 17th. CICC Research began coverage on Wells Fargo & Company in a report on Wednesday, January 14th. They issued a "market perform" rating and a $96.00 price target for the company. UBS Group reiterated a "buy" rating and set a $113.00 price objective on shares of Wells Fargo & Company in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $100.00 price objective on shares of Wells Fargo & Company in a research report on Thursday, January 15th. Thirteen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $97.03.

Insider Activity

In other news, EVP Ellen R. Patterson sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.40, for a total value of $5,244,000.00. Following the sale, the executive vice president directly owned 169,496 shares in the company, valued at $14,813,950.40. This trade represents a 26.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bridget E. Engle sold 30,000 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the transaction, the executive vice president owned 83,478 shares of the company's stock, valued at $7,270,933.80. The trade was a 26.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 115,000 shares of company stock worth $10,050,000 over the last ninety days. Insiders own 0.08% of the company's stock.

About Wells Fargo & Company

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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