Tealwood Asset Management Inc. Reduces Holdings in Wells Fargo & Company (NYSE:WFC)

Tealwood Asset Management Inc. trimmed its position in shares of Wells Fargo & Company (NYSE:WFC) by 9.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 21,790 shares of the financial services provider’s stock after selling 2,174 shares during the period. Tealwood Asset Management Inc.’s holdings in Wells Fargo & Company were worth $1,531,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WFC. Dimensional Fund Advisors LP boosted its stake in shares of Wells Fargo & Company by 4.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock valued at $1,178,591,000 after buying an additional 831,975 shares during the last quarter. National Pension Service increased its position in shares of Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after purchasing an additional 897,195 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of Wells Fargo & Company by 2.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock valued at $375,183,000 after purchasing an additional 162,066 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Wells Fargo & Company by 10.1% during the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock worth $441,983,000 after purchasing an additional 575,892 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after purchasing an additional 5,237,500 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WFC. Citigroup upped their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. The Goldman Sachs Group boosted their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Keefe, Bruyette & Woods increased their target price on Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 3rd. Finally, Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price objective for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus target price of $69.92.

Wells Fargo & Company Trading Up 0.9 %

Shares of WFC stock opened at $70.59 on Tuesday. The stock has a 50-day simple moving average of $72.27 and a 200 day simple moving average of $63.07. The stock has a market capitalization of $235.03 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.47 and a beta of 1.18. Wells Fargo & Company has a fifty-two week low of $46.12 and a fifty-two week high of $78.13. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the previous year, the company posted $1.39 EPS. The business’s revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts expect that Wells Fargo & Company will post 5.43 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were issued a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.27%. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

Insider Activity

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the sale, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 26.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.08% of the company’s stock.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.