Symmetry Partners LLC Has $996,000 Holdings in Wells Fargo & Company (NYSE:WFC)

Symmetry Partners LLC decreased its position in Wells Fargo & Company (NYSE:WFC) by 11.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,774 shares of the financial services provider’s stock after selling 2,096 shares during the period. Symmetry Partners LLC’s holdings in Wells Fargo & Company were worth $996,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Wells Fargo & Company in the 4th quarter worth $2,623,044,000. Capital World Investors boosted its position in shares of Wells Fargo & Company by 1.0% during the fourth quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock worth $1,295,459,000 after acquiring an additional 263,176 shares during the last quarter. Sanders Capital LLC grew its holdings in Wells Fargo & Company by 3.2% during the 4th quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock valued at $1,241,231,000 after buying an additional 781,772 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Wells Fargo & Company by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,237,905 shares of the financial services provider’s stock worth $1,143,770,000 after buying an additional 526,178 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Wells Fargo & Company by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 18,941,772 shares of the financial services provider’s stock worth $932,352,000 after purchasing an additional 596,521 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. BMO Capital Markets boosted their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Keefe, Bruyette & Woods dropped their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a report on Monday, July 15th. StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Jefferies Financial Group raised their target price on Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. raised their target price on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Thirteen equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $59.91.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock traded down $0.29 during trading hours on Friday, reaching $52.47. 5,604,379 shares of the stock traded hands, compared to its average volume of 18,160,189. The firm has a market capitalization of $182.93 billion, a price-to-earnings ratio of 10.82, a P/E/G ratio of 1.40 and a beta of 1.17. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The company has a 50 day moving average price of $58.31 and a 200 day moving average price of $56.96. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 EPS. On average, equities research analysts expect that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Friday, August 9th will be issued a $0.40 dividend. The ex-dividend date is Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.05%. Wells Fargo & Company’s dividend payout ratio is currently 32.85%.

Wells Fargo & Company 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.