Mount Lucas Management LP Sells 458 Shares of Wells Fargo & Company (NYSE:WFC)

Mount Lucas Management LP lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.0% during the second quarter, HoldingsChannel reports. The fund owned 44,271 shares of the financial services provider’s stock after selling 458 shares during the quarter. Mount Lucas Management LP’s holdings in Wells Fargo & Company were worth $2,629,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new position in Wells Fargo & Company during the fourth quarter worth $2,623,044,000. Capital World Investors boosted its stake in 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 buying an additional 263,176 shares in the last quarter. Sanders Capital LLC boosted its stake in 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 buying an additional 781,772 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Wells Fargo & Company by 3.3% during 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. Finally, California State Teachers Retirement System boosted its stake in Wells Fargo & Company by 0.4% during the fourth quarter. California State Teachers Retirement System now owns 5,905,934 shares of the financial services provider’s stock worth $290,690,000 after buying an additional 25,896 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 5.0 %

NYSE:WFC traded down $2.86 on Friday, hitting $54.00. 21,853,782 shares of the stock were exchanged, compared to its average volume of 17,798,791. The stock has a market capitalization of $188.26 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 1.43 and a beta of 1.16. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week 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. The company’s 50-day moving average price is $57.31 and its 200 day moving average price is $57.93.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. The firm had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.25 EPS. On average, equities research analysts forecast that Wells Fargo & Company will post 5.15 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.96%. Wells Fargo & Company’s dividend payout ratio is 32.85%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WFC. Evercore ISI decreased their price target on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday. 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 research note on Tuesday, September 3rd. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and reduced their target price for the company from $62.00 to $59.00 in a research note on Friday, August 16th. BMO Capital Markets boosted their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Finally, Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Twelve analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $60.29.

Wells Fargo & Company 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.