Robeco Institutional Asset Management B.V. Sells 241,784 Shares of Wells Fargo & Company $WFC

Key Points

• Robeco Institutional Asset Management B.V. sold 241,784 shares of Wells Fargo, reducing its stake by 45.6% to a total of 288,168 shares valued at approximately $23 million.
• Other institutions, including Brighton Jones LLC and Vest Financial LLC, have made significant changes to their holdings in Wells Fargo, indicating increased interest from institutional investors.
• Wells Fargo's recent earnings report showed earnings per share of $1.54, surpassing estimates, while the company declared an increased quarterly dividend of $0.45 per share.

Robeco Institutional Asset Management B.V. trimmed its position in Wells Fargo & Company (NYSE:WFC) by 45.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 288,168 shares of the financial services provider's stock after selling 241,784 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Wells Fargo & Company were worth $23,088,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of Wells Fargo & Company by 62.3% in the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider's stock valued at $4,652,000 after purchasing an additional 25,436 shares in the last quarter. Vest Financial LLC increased its holdings in Wells Fargo & Company by 73.5% during the first quarter. Vest Financial LLC now owns 27,256 shares of the financial services provider's stock valued at $1,957,000 after buying an additional 11,547 shares during the period. Signal Advisors Wealth LLC raised its stake in Wells Fargo & Company by 19.3% in the first quarter. Signal Advisors Wealth LLC now owns 5,871 shares of the financial services provider's stock worth $421,000 after buying an additional 950 shares in the last quarter. Procyon Advisors LLC lifted its holdings in Wells Fargo & Company by 2.8% during the first quarter. Procyon Advisors LLC now owns 6,823 shares of the financial services provider's stock worth $490,000 after buying an additional 184 shares during the period. Finally, Elk River Wealth Management LLC purchased a new stake in Wells Fargo & Company during the first quarter worth $201,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Morgan Stanley downgraded Wells Fargo & Company from an "overweight" rating to an "equal weight" rating and lifted their price target for the company from $87.00 to $90.00 in a report on Monday, September 29th. Weiss Ratings reiterated a "hold (c)" rating on shares of Wells Fargo & Company in a research note on Saturday, September 27th. Piper Sandler reiterated an "overweight" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Citigroup raised their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, September 23rd. Finally, The Goldman Sachs Group reduced their price objective on shares of Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $83.74.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $80.63 on Friday. The business has a fifty day moving average of $80.77 and a 200 day moving average of $76.31. Wells Fargo & Company has a 1 year low of $55.98 and a 1 year high of $86.65. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a market capitalization of $258.28 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 1.24 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted 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. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The business had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter in the previous year, the business earned $1.33 EPS. The company's quarterly revenue was up .6% compared to the same quarter last year. As a group, research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.40. Wells Fargo & Company's payout ratio is 30.82%.

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.

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