Sendero Wealth Management LLC Grows Stake in Wells Fargo & Company (NYSE:WFC)

Sendero Wealth Management LLC boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,685 shares of the financial services provider’s stock after purchasing an additional 866 shares during the quarter. Sendero Wealth Management LLC’s holdings in Wells Fargo & Company were worth $1,225,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WFC. Marshall Wace LLP raised its position in shares of Wells Fargo & Company by 3,295.6% in the second quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock valued at $138,493,000 after buying an additional 2,404,898 shares during the last quarter. 1832 Asset Management L.P. grew its position in shares of 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 purchasing an additional 2,349,595 shares during the period. Rokos Capital Management LLP increased its stake in Wells Fargo & Company by 141.6% in the first 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 during the last quarter. Mn Services Vermogensbeheer B.V. purchased a new position in Wells Fargo & Company during the first quarter worth about $84,819,000. Finally, Canada Pension Plan Investment Board boosted its stake in Wells Fargo & Company by 38.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock worth $297,411,000 after buying an additional 1,415,647 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.6 %

Shares of NYSE:WFC traded up $0.36 during midday trading on Thursday, reaching $57.90. The company had a trading volume of 5,307,331 shares, compared to its average volume of 17,848,744. The business’s 50 day moving average price is $55.22 and its 200 day moving average price is $57.75. Wells Fargo & Company has a 1-year low of $38.58 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 stock has a market cap of $201.86 billion, a PE ratio of 11.91, a P/E/G ratio of 1.32 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results 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 company had revenue of $20.69 billion for the quarter, compared to analysts’ expectations of $20.29 billion. During the same period in the prior year, the firm earned $1.25 EPS. Wells Fargo & Company’s quarterly revenue was up .8% compared to the same quarter last year. Research analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were given a dividend of $0.40 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio is currently 32.85%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research report on Tuesday. Morgan Stanley cut their price objective on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. The Goldman Sachs Group decreased their target price on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods dropped 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. Twelve research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus target price of $60.65.

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.