Capital Group Private Client Services Inc. Sells 8,347 Shares of Wells Fargo & Company (NYSE:WFC)

Capital Group Private Client Services Inc. lowered its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 1.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 714,515 shares of the financial services provider's stock after selling 8,347 shares during the period. Capital Group Private Client Services Inc.'s holdings in Wells Fargo & Company were worth $50,188,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in Wells Fargo & Company in the 4th quarter worth about $3,365,658,000. Nordea Investment Management AB increased 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 valued at $441,983,000 after acquiring an additional 575,892 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Wells Fargo & Company by 6.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,464,967 shares of the financial services provider's stock valued at $389,707,000 after acquiring an additional 352,821 shares in the last quarter. FIL Ltd increased its holdings in shares of Wells Fargo & Company by 2.6% in the 4th quarter. FIL Ltd now owns 4,138,814 shares of the financial services provider's stock worth $290,710,000 after purchasing an additional 104,136 shares in the last quarter. Finally, Korea Investment CORP increased its holdings in Wells Fargo & Company by 53.9% in the 4th quarter. Korea Investment CORP now owns 3,286,809 shares of the financial services provider's stock worth $230,865,000 after buying an additional 1,150,443 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Trading Up 1.0 %

NYSE WFC traded up $0.65 on Friday, hitting $64.63. 18,930,900 shares of the stock were exchanged, compared to its average volume of 17,516,893. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The firm has a market capitalization of $211.02 billion, a P/E ratio of 12.01, a P/E/G ratio of 1.18 and a beta of 1.02. The stock has a fifty day moving average price of $71.23 and a two-hundred day moving average price of $71.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.15 billion for the quarter, compared to the consensus estimate of $20.82 billion. During the same period in the prior year, the firm posted $1.20 EPS. The firm's revenue was down 3.4% compared to the same quarter last year. Research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.48%. Wells Fargo & Company's payout ratio is 28.73%.

Analyst Ratings Changes

WFC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Phillip Securities raised Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, April 14th. Keefe, Bruyette & Woods raised their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research note on Thursday, January 16th. Bank of America decreased their price target on shares of Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, Royal Bank of Canada raised shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective for the company in a research report on Thursday, March 13th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and an average price target of $75.34.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.