10,000 Shares in Wells Fargo & Co (WFC) Acquired by Accident Compensation Corp

Accident Compensation Corp purchased a new stake in shares of Wells Fargo & Co (NYSE:WFC) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 10,000 shares of the financial services provider’s stock, valued at approximately $552,000.

A number of other institutional investors have also recently bought and sold shares of the business. Stelac Advisory Services LLC acquired a new position in shares of Wells Fargo & Co in the 2nd quarter valued at about $104,000. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Wells Fargo & Co by 0.3% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock valued at $106,000 after buying an additional 6 shares during the period. Westside Investment Management Inc. lifted its holdings in shares of Wells Fargo & Co by 63.9% in the 2nd quarter. Westside Investment Management Inc. now owns 2,286 shares of the financial services provider’s stock valued at $127,000 after buying an additional 891 shares during the period. BKS Advisors LLC acquired a new position in shares of Wells Fargo & Co in the 3rd quarter valued at about $143,000. Finally, BDO Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Co in the 2nd quarter valued at about $151,000. Institutional investors and hedge funds own 76.20% of the company’s stock.

Shares of Wells Fargo & Co (NYSE WFC) opened at $56.13 on Friday. Wells Fargo & Co has a 52 week low of $49.27 and a 52 week high of $66.31. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $276,400.00, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 1.50 and a beta of 1.01.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.07). Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. The firm had revenue of $22.05 billion for the quarter, compared to analysts’ expectations of $22.64 billion. During the same quarter last year, the firm posted $0.96 earnings per share. Wells Fargo & Co’s quarterly revenue was up 2.2% on a year-over-year basis. equities analysts anticipate that Wells Fargo & Co will post 4.73 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, February 1st. This represents a $1.56 annualized dividend and a yield of 2.78%. Wells Fargo & Co’s dividend payout ratio (DPR) is currently 37.77%.

Wells Fargo & Co announced that its board has initiated a share repurchase plan on Tuesday, January 23rd that authorizes the company to repurchase 350,000,000 shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Several equities analysts have recently issued reports on WFC shares. Vetr raised Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $52.91 price objective for the company in a report on Monday, October 16th. Piper Jaffray Companies set a $50.00 price target on Wells Fargo & Co and gave the stock a “hold” rating in a report on Sunday, October 15th. BMO Capital Markets upped their price target on Wells Fargo & Co from $49.00 to $50.00 and gave the stock a “market perform” rating in a report on Monday, October 16th. UBS Group set a $55.00 price target on Wells Fargo & Co and gave the stock a “hold” rating in a report on Monday, October 16th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $59.00 price target on shares of Wells Fargo & Co in a report on Monday, October 16th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the stock. Wells Fargo & Co currently has an average rating of “Hold” and a consensus price target of $76.81.

In other news, VP Richard Levy sold 97,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total value of $5,477,590.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John R. Shrewsberry sold 70,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.90, for a total value of $3,983,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 184,482 shares of company stock valued at $10,471,050. 0.22% of the stock is owned by company insiders.

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Wells Fargo & Co Company Profile

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.

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

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