Symmetry Investments LP Takes $5.80 Million Position in Wells Fargo & Company (NYSE:WFC)

Symmetry Investments LP acquired a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 97,660 shares of the financial services provider's stock, valued at approximately $5,800,000.

Other hedge funds have also recently modified their holdings of the company. 1832 Asset Management L.P. increased its holdings in Wells Fargo & Company by 67.1% in the first quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider's stock valued at $339,226,000 after buying an additional 2,349,595 shares in the last quarter. Morningstar Investment Services LLC increased its stake in shares of Wells Fargo & Company by 103.7% in the 4th quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider's stock valued at $189,684,000 after purchasing an additional 1,951,477 shares in the last quarter. Rokos Capital Management LLP increased its stake in shares of Wells Fargo & Company by 141.6% in the 1st quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider's stock valued at $151,853,000 after purchasing an additional 1,536,152 shares in the last quarter. Mn Services Vermogensbeheer B.V. acquired a new position in Wells Fargo & Company in the 1st quarter worth about $84,819,000. Finally, Canada Pension Plan Investment Board boosted its position in Wells Fargo & Company by 38.1% during the first quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider's stock worth $297,411,000 after purchasing an additional 1,415,647 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Analysts Set New Price Targets

WFC has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 target price for the company in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods reduced their price objective on shares of Wells Fargo & Company from $62.00 to $61.00 and set a "market perform" rating for the company in a research report on Monday, July 15th. Evercore ISI dropped their target price on shares of Wells Fargo & Company from $67.00 to $65.00 and set an "outperform" rating on the stock in a research report on Friday, September 6th. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a "hold" rating and reduced their price target for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Finally, BMO Capital Markets lifted their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a "market perform" rating in a report on Thursday, July 11th. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $60.29.

Wells Fargo & Company Trading Up 0.9 %

Shares of WFC traded up $0.49 during midday trading on Friday, reaching $56.29. The company had a trading volume of 45,276,002 shares, compared to its average volume of 18,178,670. Wells Fargo & Company has a 1-year low of $38.38 and a 1-year high of $62.55. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The firm has a 50 day simple moving average of $56.19 and a 200-day simple moving average of $57.89. The stock has a market cap of $196.24 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 1.27 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. Wells Fargo & Company's quarterly revenue was up .8% on a year-over-year basis. Research analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.35. Wells Fargo & Company's payout ratio is presently 32.85%.

About Wells Fargo & Company

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.