Manning & Napier Advisors LLC Reduces Holdings in Wells Fargo & Company $WFC

Key Points

• Manning & Napier Advisors LLC cut its Wells Fargo stake by 11.2% in the fourth quarter, selling 29,304 shares and ending with 232,839 shares worth about $21.96 million.
• Other institutions were active in the stock as well, with several large investors adding to positions; hedge funds and other institutional investors now own 75.9% of Wells Fargo shares.
• Wells Fargo reported Q1 earnings of $1.60 per share, slightly beating estimates, and it also declared a quarterly dividend of $0.45 per share, yielding about 2.4% annually.

Manning & Napier Advisors LLC decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 11.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 232,839 shares of the financial services provider's stock after selling 29,304 shares during the quarter. Manning & Napier Advisors LLC's holdings in Wells Fargo & Company were worth $21,959,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its stake in Wells Fargo & Company by 18.6% in the 3rd quarter. Capital Research Global Investors now owns 35,660,903 shares of the financial services provider's stock valued at $2,989,104,000 after acquiring an additional 5,584,930 shares during the period. Danske Bank A S bought a new position in Wells Fargo & Company during the third quarter worth about $215,638,000. M&G PLC increased its stake in shares of Wells Fargo & Company by 320.3% in the third quarter. M&G PLC now owns 2,946,277 shares of the financial services provider's stock worth $247,487,000 after purchasing an additional 2,245,307 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth about $173,651,000. Finally, Mawer Investment Management Ltd. bought a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $147,165,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Insider Transactions at Wells Fargo & Company

In related news, EVP Ellen R. Patterson sold 60,000 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $87.40, for a total value of $5,244,000.00. Following the sale, the executive vice president owned 169,496 shares in the company, valued at approximately $14,813,950.40. This trade represents a 26.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kleber Santos sold 25,000 shares of Wells Fargo & Company stock in a transaction on Friday, February 20th. The shares were sold at an average price of $87.72, for a total value of $2,193,000.00. Following the sale, the executive vice president directly owned 79,876 shares of the company's stock, valued at $7,006,722.72. This represents a 23.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 115,000 shares of company stock valued at $10,050,000. 0.14% of the stock is currently owned by company insiders.

Wells Fargo & Company Price Performance

WFC stock opened at $75.57 on Friday. The firm has a 50 day moving average of $80.47 and a 200-day moving average of $86.11. The firm has a market capitalization of $231.26 billion, a P/E ratio of 11.66, a price-to-earnings-growth ratio of 0.93 and a beta of 0.96. Wells Fargo & Company has a 12 month low of $71.89 and a 12 month high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.12.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.02. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The business had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. During the same quarter in the prior year, the firm posted $1.39 EPS. Wells Fargo & Company's revenue was up 6.4% on a year-over-year basis. As a group, sell-side analysts predict that Wells Fargo & Company will post 6.82 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.4%. Wells Fargo & Company's dividend payout ratio is presently 27.78%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Piper Sandler restated an "overweight" rating and set a $94.00 price target (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. Phillip Securities raised shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday. Morgan Stanley dropped their target price on Wells Fargo & Company from $108.00 to $100.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 31st. Argus raised their price target on Wells Fargo & Company from $94.00 to $101.00 and gave the stock a "buy" rating in a report on Thursday, January 15th. Finally, TD Cowen reduced their price target on Wells Fargo & Company from $102.00 to $100.00 and set a "hold" rating for the company in a research report on Thursday, January 15th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $97.53.

Key Headlines Impacting Wells Fargo & Company

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

• Positive Sentiment: Phillip Securities upgraded Wells Fargo & Company (WFC) from “moderate buy” to “strong-buy,” reinforcing the view that the bank’s turnaround and earnings strength still have room to run.
• Positive Sentiment: Market commentary noted that Wells Fargo’s comeback looks real, supported by accelerating loan growth, rising shareholder returns, and stronger customer activity, which could help sustain investor confidence. Wells Fargo’s Comeback Is Real—But Not Risk-Free
• Positive Sentiment: Additional article coverage framed WFC as a potentially attractive dividend stock, which may appeal to income-focused investors looking for a large-cap financial name with improving fundamentals. Wells Fargo (WFC) Could Be a Great Choice
• Neutral Sentiment: There was also heavy put option activity in Wells Fargo, with traders buying 82,048 puts versus a typical volume of 59,215, suggesting some hedging or bearish positioning despite the recent positive coverage.
• Neutral Sentiment: Separately, Wells Fargo has been active on the research side across other stocks, including a downgrade of Nike and higher price targets on Arm Holdings, but those calls are not direct catalysts for WFC shares.

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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