DMC Group LLC Sells 3,097 Shares of Wells Fargo & Company $WFC

DMC Group LLC trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 19.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 12,583 shares of the financial services provider's stock after selling 3,097 shares during the quarter. DMC Group LLC's holdings in Wells Fargo & Company were worth $1,008,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Wells Fargo & Company by 2,735,254.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider's stock worth $76,095,550,000 after buying an additional 949,735,001 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Wells Fargo & Company by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider's stock worth $1,471,259,000 after buying an additional 128,207 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Wells Fargo & Company by 277.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider's stock worth $771,092,000 after buying an additional 7,894,919 shares during the last quarter. Boston Partners lifted its position in shares of Wells Fargo & Company by 6.2% during the 1st quarter. Boston Partners now owns 8,953,009 shares of the financial services provider's stock worth $640,616,000 after buying an additional 523,107 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Wells Fargo & Company by 10.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,009,440 shares of the financial services provider's stock worth $431,418,000 after buying an additional 544,473 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WFC has been the subject of several recent analyst reports. Morgan Stanley downgraded Wells Fargo & Company from an "overweight" rating to an "equal weight" rating and upped their price objective for the stock from $87.00 to $90.00 in a research report on Monday, September 29th. Dbs Bank upgraded Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Wall Street Zen upgraded Wells Fargo & Company from a "sell" rating to a "hold" rating in a research report on Saturday. Evercore ISI upped their price objective on Wells Fargo & Company from $94.00 to $98.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 30th. Finally, Raymond James Financial cut Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 7th. Eight research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $85.41.

Wells Fargo & Company Price Performance

Shares of WFC opened at $81.09 on Wednesday. Wells Fargo & Company has a 12-month low of $57.07 and a 12-month high of $86.65. The business has a 50-day simple moving average of $80.69 and a two-hundred day simple moving average of $76.42. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The stock has a market cap of $259.75 billion, a PE ratio of 13.88, a PEG ratio of 1.24 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.13. The company had revenue of $20.82 billion during the quarter, compared to analysts' expectations of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The business's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 earnings per share. Analysts anticipate 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. Stockholders of record on Friday, August 8th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. Wells Fargo & Company's payout ratio is currently 30.82%.

Wells Fargo & 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.

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