Stelac Advisory Services LLC Acquires New Holdings in Wells Fargo & Company (WFC)

Stelac Advisory Services LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,883 shares of the financial services provider’s stock, valued at approximately $104,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boston Partners increased its holdings in Wells Fargo & by 50.0% in the first quarter. Boston Partners now owns 7,948,841 shares of the financial services provider’s stock valued at $442,432,000 after purchasing an additional 2,648,763 shares during the last quarter. Rockland Trust Co. increased its holdings in Wells Fargo & by 0.6% in the second quarter. Rockland Trust Co. now owns 316,530 shares of the financial services provider’s stock valued at $17,539,000 after purchasing an additional 1,856 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Wells Fargo & by 83.9% in the first quarter. Canada Pension Plan Investment Board now owns 7,972,116 shares of the financial services provider’s stock valued at $443,728,000 after purchasing an additional 3,637,100 shares during the last quarter. Kelman Lazarov Inc. increased its holdings in Wells Fargo & by 6.0% in the second quarter. Kelman Lazarov Inc. now owns 64,172 shares of the financial services provider’s stock valued at $3,556,000 after purchasing an additional 3,612 shares during the last quarter. Finally, First Citizens Bank & Trust Co. grew its stake in Wells Fargo & by 4.7% in the second quarter. First Citizens Bank & Trust Co. now owns 103,269 shares of the financial services provider’s stock valued at $5,722,000 after acquiring an additional 4,647 shares during the period. Institutional investors and hedge funds own 75.00% of the company’s stock.

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A number of research analysts have issued reports on the company. Vetr cut Wells Fargo & from a “hold” rating to a “sell” rating and set a $54.49 target price for the company. in a research note on Thursday. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $59.00 target price on shares of Wells Fargo & in a research note on Monday, October 16th. UBS Group AG (USA) set a $55.00 target price on Wells Fargo & and gave the company a “hold” rating in a research note on Monday, October 16th. BMO Capital Markets boosted their target price on Wells Fargo & from $49.00 to $50.00 and gave the company a “market perform” rating in a research note on Monday, October 16th. Finally, Piper Jaffray Companies set a $50.00 target price on Wells Fargo & and gave the company a “hold” rating in a research note on Sunday, October 15th. Seven equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $57.20.

Shares of Wells Fargo & Company (NYSE:WFC) opened at $56.35 on Friday. The firm has a market cap of $280,363.53, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 1.36 and a beta of 0.97. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89.

Wells Fargo & (NYSE:WFC) last announced its earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). The company had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $22.30 billion. Wells Fargo & had a return on equity of 12.59% and a net margin of 22.00%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 earnings per share. equities research analysts anticipate that Wells Fargo & Company will post 3.97 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Thursday, November 2nd. Wells Fargo &’s dividend payout ratio is currently 40.31%.

About Wells Fargo &

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

Institutional Ownership by Quarter for Wells Fargo & (NYSE:WFC)

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