Wells Fargo & Co (NYSE:WFC) Shares Sold by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group reduced its position in Wells Fargo & Co (NYSE:WFC) by 47.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 19,485 shares of the financial services provider’s stock after selling 17,854 shares during the period. Rehmann Capital Advisory Group’s holdings in Wells Fargo & Co were worth $898,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the business. Glassman Wealth Services raised its holdings in Wells Fargo & Co by 100.8% in the 3rd quarter. Glassman Wealth Services now owns 15,877 shares of the financial services provider’s stock valued at $834,000 after acquiring an additional 7,970 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Wells Fargo & Co by 208.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,018,318 shares of the financial services provider’s stock worth $53,523,000 after purchasing an additional 687,811 shares during the period. Bridgeway Capital Management Inc. increased its holdings in shares of Wells Fargo & Co by 11.9% during the third quarter. Bridgeway Capital Management Inc. now owns 294,030 shares of the financial services provider’s stock worth $15,454,000 after purchasing an additional 31,300 shares during the period. Standard Life Aberdeen plc increased its holdings in shares of Wells Fargo & Co by 46.7% during the third quarter. Standard Life Aberdeen plc now owns 3,759,329 shares of the financial services provider’s stock worth $197,609,000 after purchasing an additional 1,196,518 shares during the period. Finally, Stevens Capital Management LP bought a new position in shares of Wells Fargo & Co during the third quarter worth approximately $35,146,000. 72.19% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE WFC traded up $0.13 during trading hours on Wednesday, hitting $47.48. 17,173,921 shares of the stock were exchanged, compared to its average volume of 22,445,957. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $230.96 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 0.90 and a beta of 1.11. Wells Fargo & Co has a 1-year low of $43.02 and a 1-year high of $59.53.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.12. The business had revenue of $21.61 billion for the quarter, compared to analyst estimates of $20.89 billion. Wells Fargo & Co had a net margin of 22.59% and a return on equity of 13.37%. During the same quarter last year, the business posted $0.96 EPS. On average, equities research analysts forecast that Wells Fargo & Co will post 4.77 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.80 annualized dividend and a dividend yield of 3.79%. Wells Fargo & Co’s dividend payout ratio is 41.10%.

WFC has been the topic of several recent research reports. Raymond James raised shares of Wells Fargo & Co from an “underperform” rating to a “market perform” rating and set a $50.08 target price on the stock in a report on Friday, March 29th. Wolfe Research cut shares of Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 8th. Royal Bank of Canada raised shares of Wells Fargo & Co from an “underperform” rating to a “sector perform” rating and set a $45.50 target price on the stock in a report on Wednesday, January 2nd. Barclays lowered their target price on shares of Wells Fargo & Co from $66.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, January 2nd. Finally, Deutsche Bank cut shares of Wells Fargo & Co from a “buy” rating to a “hold” rating and lowered their target price for the stock from $56.00 to $54.00 in a report on Friday, March 29th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. Wells Fargo & Co currently has an average rating of “Hold” and an average target price of $56.35.

COPYRIGHT VIOLATION NOTICE: This piece of content was published by Baseball Daily News and is the property of of Baseball Daily News. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of United States and international copyright and trademark law. The original version of this piece of content can be accessed at https://www.baseballdailydigest.com/news/2019/04/25/rehmann-capital-advisory-group-sells-17854-shares-of-wells-fargo-co-wfc.html.

About Wells Fargo & Co

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.

Recommended Story: Stock Selection – What is cash flow?

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

Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with MarketBeat.com's FREE daily email newsletter.