NN Investment Partners Holdings N.V. Buys New Holdings in Wells Fargo & Co (WFC)

NN Investment Partners Holdings N.V. purchased a new position in shares of Wells Fargo & Co (NYSE:WFC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,330 shares of the financial services provider’s stock, valued at approximately $753,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in Wells Fargo & Co by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 43,088,636 shares of the financial services provider’s stock worth $2,388,296,000 after purchasing an additional 1,874,789 shares in the last quarter. Magellan Asset Management Ltd raised its holdings in Wells Fargo & Co by 0.3% during the second quarter. Magellan Asset Management Ltd now owns 31,103,695 shares of the financial services provider’s stock worth $1,724,389,000 after purchasing an additional 78,797 shares in the last quarter. Boston Partners raised its holdings in Wells Fargo & Co by 12.6% during the second quarter. Boston Partners now owns 21,223,020 shares of the financial services provider’s stock worth $1,176,604,000 after purchasing an additional 2,372,583 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Wells Fargo & Co by 2.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 16,910,637 shares of the financial services provider’s stock worth $937,526,000 after purchasing an additional 372,355 shares in the last quarter. Finally, Sanders Capital LLC purchased a new position in Wells Fargo & Co during the second quarter worth about $952,809,000. 77.50% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently issued reports on WFC. Zacks Investment Research cut shares of Wells Fargo & Co from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Macquarie raised shares of Wells Fargo & Co from a “neutral” rating to an “outperform” rating in a report on Monday, October 15th. ValuEngine cut shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Friday, September 28th. Morgan Stanley cut their price target on shares of Wells Fargo & Co from $62.00 to $61.00 and set an “equal weight” rating for the company in a report on Monday, July 16th. Finally, Citigroup raised shares of Wells Fargo & Co from a “neutral” rating to a “buy” rating in a report on Friday, November 2nd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Wells Fargo & Co presently has an average rating of “Buy” and a consensus price target of $63.79.

In other news, EVP Hope A. Hardison sold 25,000 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $58.01, for a total value of $1,450,250.00. Following the sale, the executive vice president now directly owns 109 shares in the company, valued at $6,323.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Avid Modjtabai sold 100,000 shares of the stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $58.71, for a total transaction of $5,871,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Shares of WFC opened at $53.58 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. Wells Fargo & Co has a twelve month low of $50.02 and a twelve month high of $66.31. The stock has a market cap of $261.20 billion, a price-to-earnings ratio of 13.04, a P/E/G ratio of 1.07 and a beta of 1.01.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Friday, October 12th. The financial services provider reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.04). Wells Fargo & Co had a return on equity of 12.69% and a net margin of 23.17%. The company had revenue of $21.94 billion for the quarter, compared to analyst estimates of $21.90 billion. Equities analysts anticipate that Wells Fargo & Co will post 4.5 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Friday, November 9th will be given a dividend of $0.43 per share. The ex-dividend date is Thursday, November 8th. This represents a $1.72 annualized dividend and a yield of 3.21%. Wells Fargo & Co’s payout ratio is currently 41.85%.

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

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About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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