Wells Fargo & Co (NYSE:WFC) Shares Sold by Mason Street Advisors LLC

Mason Street Advisors LLC reduced its holdings in Wells Fargo & Co (NYSE:WFC) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 571,231 shares of the financial services provider’s stock after selling 5,643 shares during the quarter. Wells Fargo & Co makes up 0.6% of Mason Street Advisors LLC’s portfolio, making the stock its 27th biggest holding. Mason Street Advisors LLC’s holdings in Wells Fargo & Co were worth $28,813,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bath Savings Trust Co raised its holdings in Wells Fargo & Co by 7.4% in the second quarter. Bath Savings Trust Co now owns 4,529 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 312 shares in the last quarter. Thomasville National Bank raised its holdings in Wells Fargo & Co by 1.3% in the second quarter. Thomasville National Bank now owns 53,713 shares of the financial services provider’s stock worth $2,542,000 after purchasing an additional 714 shares in the last quarter. Bright Rock Capital Management LLC raised its holdings in Wells Fargo & Co by 19.5% in the second quarter. Bright Rock Capital Management LLC now owns 208,215 shares of the financial services provider’s stock worth $9,853,000 after purchasing an additional 34,000 shares in the last quarter. Beese Fulmer Investment Management Inc. raised its holdings in Wells Fargo & Co by 1.8% in the second quarter. Beese Fulmer Investment Management Inc. now owns 107,828 shares of the financial services provider’s stock worth $5,102,000 after purchasing an additional 1,925 shares in the last quarter. Finally, Rockland Trust Co. raised its holdings in Wells Fargo & Co by 8.7% in the second quarter. Rockland Trust Co. now owns 409,345 shares of the financial services provider’s stock worth $19,370,000 after purchasing an additional 32,697 shares in the last quarter. Hedge funds and other institutional investors own 75.13% of the company’s stock.

A number of equities analysts have commented on the stock. UBS Group downgraded shares of Wells Fargo & Co from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $51.00 to $49.00 in a report on Tuesday, September 10th. Piper Jaffray Companies set a $46.00 price target on Wells Fargo & Co and gave the stock a “hold” rating in a research note on Monday, September 9th. BMO Capital Markets dropped their price target on Wells Fargo & Co from $59.00 to $57.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 16th. Argus upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Monday, September 30th. Finally, Credit Suisse Group boosted their price target on Wells Fargo & Co from $52.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Four research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $49.75.

NYSE WFC traded down $0.05 during trading hours on Monday, reaching $54.05. The stock had a trading volume of 10,599,410 shares, compared to its average volume of 20,816,832. The stock has a fifty day moving average of $50.39 and a 200 day moving average of $47.60. The stock has a market cap of $225.42 billion, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 1.11 and a beta of 1.11. Wells Fargo & Co has a 52-week low of $43.02 and a 52-week high of $55.04. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.92 EPS for the quarter, missing the Zacks’ consensus estimate of $1.15 by ($0.23). The firm had revenue of $22.01 billion during the quarter, compared to analysts’ expectations of $21.32 billion. Wells Fargo & Co had a net margin of 21.67% and a return on equity of 13.01%. Wells Fargo & Co’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.13 EPS. On average, equities research analysts forecast that Wells Fargo & Co will post 4.5 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be given a $0.51 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.04 dividend on an annualized basis and a yield of 3.77%. Wells Fargo & Co’s dividend payout ratio is currently 46.58%.

Wells Fargo & Co announced that its Board of Directors has approved a share buyback plan on Tuesday, July 23rd that permits the company to repurchase 350,000,000 outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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