Teachers Retirement System of The State of Kentucky Sells 49,314 Shares of Wells Fargo & Company (NYSE:WFC)

Teachers Retirement System of The State of Kentucky trimmed its position in Wells Fargo & Company (NYSE:WFC) by 4.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 998,834 shares of the financial services provider's stock after selling 49,314 shares during the period. Wells Fargo & Company accounts for approximately 0.6% of Teachers Retirement System of The State of Kentucky's investment portfolio, making the stock its 18th biggest position. Teachers Retirement System of The State of Kentucky's holdings in Wells Fargo & Company were worth $71,707,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Secured Retirement Advisors LLC acquired a new stake in Wells Fargo & Company in the first quarter valued at $408,000. RKL Wealth Management LLC increased its holdings in Wells Fargo & Company by 166.4% in the first quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider's stock valued at $588,000 after purchasing an additional 5,113 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Wells Fargo & Company by 12.1% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 651,808 shares of the financial services provider's stock valued at $45,783,000 after purchasing an additional 70,104 shares during the period. Silver Oak Securities Incorporated acquired a new stake in Wells Fargo & Company in the first quarter valued at $215,000. Finally, Principal Financial Group Inc. increased its holdings in Wells Fargo & Company by 30.5% in the first quarter. Principal Financial Group Inc. now owns 4,926,423 shares of the financial services provider's stock valued at $353,668,000 after purchasing an additional 1,152,181 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Citigroup restated a "neutral" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Bank of America increased their price target on Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Dbs Bank upgraded Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a report on Thursday. Evercore ISI reiterated an "outperform" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Finally, Wall Street Zen upgraded Wells Fargo & Company from a "sell" rating to a "hold" rating in a report on Friday. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $80.39.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $80.64 on Friday. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $83.95. The company's 50 day moving average price is $77.14 and its two-hundred day moving average price is $74.21. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The stock has a market cap of $262.42 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.34 and a beta of 1.16.

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 (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $20.83 billion. During the same quarter last year, the business posted $1.33 EPS. Wells Fargo & Company's quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were paid a $0.40 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a yield of 1.98%. Wells Fargo & Company's dividend payout ratio is 27.40%.

Wells Fargo & Company declared that its board has approved a share repurchase plan on Tuesday, April 29th that permits the company to buyback $40.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 17.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

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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