Jacobs Levy Equity Management Inc. Has $33.14 Million Stake in Wells Fargo & Company (NYSE:WFC)

Jacobs Levy Equity Management Inc. reduced its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 31.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 471,756 shares of the financial services provider's stock after selling 217,329 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in Wells Fargo & Company were worth $33,136,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Janus Henderson Group PLC boosted its stake in shares of Wells Fargo & Company by 1.8% in the fourth quarter. Janus Henderson Group PLC now owns 449,831 shares of the financial services provider's stock valued at $31,615,000 after buying an additional 7,959 shares during the period. Junto Capital Management LP acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth $66,247,000. Geller Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth $235,000. Gen Wealth Partners Inc boosted its stake in Wells Fargo & Company by 241.4% in the fourth quarter. Gen Wealth Partners Inc now owns 1,707 shares of the financial services provider's stock valued at $120,000 after buying an additional 1,207 shares in the last quarter. Finally, Gotham Asset Management LLC grew its position in Wells Fargo & Company by 2.8% in the fourth quarter. Gotham Asset Management LLC now owns 75,310 shares of the financial services provider's stock valued at $5,290,000 after acquiring an additional 2,064 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Down 1.0%

WFC traded down $0.78 during trading on Thursday, hitting $75.50. The company's stock had a trading volume of 15,295,254 shares, compared to its average volume of 17,539,702. The firm has a market capitalization of $245.69 billion, a P/E ratio of 14.03, a PEG ratio of 1.18 and a beta of 1.13. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The stock's fifty day moving average price is $69.24 and its 200-day moving average price is $72.35. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.16. The company had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.20 EPS. Analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 9th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.12%. Wells Fargo & Company's dividend payout ratio is presently 28.73%.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on WFC shares. TD Cowen assumed coverage on shares of Wells Fargo & Company in a research note on Thursday. They issued a "hold" rating and a $83.00 price target on the stock. Phillip Securities raised shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, April 14th. Raymond James dropped their price target on Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating for the company in a research note on Monday, April 14th. Keefe, Bruyette & Woods boosted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research report on Thursday, January 16th. Finally, Morgan Stanley boosted their price objective on Wells Fargo & Company from $79.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $75.73.

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.