Kiltearn Partners LLP Sells 630,500 Shares of Wells Fargo & Company (NYSE:WFC)

Kiltearn Partners LLP decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 64.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 345,499 shares of the financial services provider’s stock after selling 630,500 shares during the quarter. Wells Fargo & Company accounts for approximately 1.8% of Kiltearn Partners LLP’s investment portfolio, making the stock its 24th biggest holding. Kiltearn Partners LLP’s holdings in Wells Fargo & Company were worth $19,898,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in WFC. Norges Bank bought a new position in Wells Fargo & Company in the 4th quarter valued at $2,623,044,000. Capital World Investors boosted its holdings 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 purchasing an additional 263,176 shares during the period. Sanders Capital LLC boosted its holdings in shares of Wells Fargo & Company by 3.2% during the fourth quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock worth $1,241,231,000 after purchasing an additional 781,772 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 purchasing an additional 526,178 shares during the period. Finally, Dimensional Fund Advisors LP raised 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 buying an additional 596,521 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 1.2 %

WFC traded up $0.69 on Friday, reaching $60.39. 12,538,935 shares of the company’s stock were exchanged, compared to its average volume of 16,486,272. The company’s 50 day moving average is $59.15 and its 200-day moving average is $56.59. The company has a market cap of $210.54 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.48 and a beta of 1.17. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. During the same quarter last year, the company earned $1.25 earnings per share. Wells Fargo & Company’s revenue for the quarter was up .8% on a year-over-year basis. Equities analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Friday, August 9th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Friday, August 9th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is currently 28.75%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WFC. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. BMO Capital Markets lifted their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. boosted their target price on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Argus lifted their price target on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Finally, The Goldman Sachs Group boosted their price objective on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Thirteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $59.31.

Wells Fargo & 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.