Meiji Yasuda Life Insurance Co Has $2.78 Million Stock Holdings in Wells Fargo & Company $WFC

Key Points

• Meiji Yasuda Life Insurance Co has reduced its holdings in Wells Fargo & Company by 14%, now owning 38,673 shares valued at approximately $2.78 million.
• Wells Fargo recently increased its quarterly dividend from $0.40 to $0.45 per share, representing a 2.3% dividend yield.
• The company's latest earnings report exceeded analysts' expectations, with earnings per share of $1.54, compared to the consensus estimate of $1.41.

Meiji Yasuda Life Insurance Co lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 14.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 38,673 shares of the financial services provider's stock after selling 6,296 shares during the period. Meiji Yasuda Life Insurance Co's holdings in Wells Fargo & Company were worth $2,776,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Motco boosted its position in shares of Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider's stock worth $29,000 after purchasing an additional 326 shares in the last quarter. Accent Capital Management LLC bought a new position in shares of Wells Fargo & Company during the first quarter worth $29,000. Stone House Investment Management LLC bought a new position in shares of Wells Fargo & Company during the first quarter worth $34,000. Orion Capital Management LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter worth $35,000. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of Wells Fargo & Company during the first quarter worth $36,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $78.98 on Monday. 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 company has a market capitalization of $253.00 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.23 and a beta of 1.25. Wells Fargo & Company has a 12-month low of $50.22 and a 12-month high of $84.83. The firm has a 50-day moving average price of $80.54 and a two-hundred day moving average price of $75.00.

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, topping analysts' consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The company had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter in the prior year, the firm posted $1.33 EPS. The firm's quarterly revenue was up .6% on a year-over-year basis. Analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. Wells Fargo & Company's dividend payout ratio is currently 30.82%.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of recent analyst reports. Dbs Bank raised shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Citigroup reaffirmed a "neutral" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Raymond James Financial cut shares of Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research report on Monday, July 7th. Wall Street Zen raised shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, Bank of America lifted their price target on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and an average price target of $82.56.

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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