Todays Report: Today: Neville Rodie & Shaw Inc. decides to keep it stake in Wells Fargo & Co. (WFC) to the level of $13,018,000

Today: Neville Rodie & Shaw Inc. decides to keep it stake in Wells Fargo & Co. (WFC) to the level of $13,018,000

Neville Rodie & Shaw Inc. cut its position in shares of Wells Fargo & Co. (NYSE:WFC) by 5.3% during the third quarter, Holdings Channel reports. The fund owned 293,983 shares of the financial services provider’s stock after selling 16,512 shares during the period. Wells Fargo & Co. comprises about 1.5% of Neville Rodie & Shaw Inc.’s investment portfolio, making the stock its 10th largest position. Neville Rodie & Shaw Inc.’s holdings in Wells Fargo & Co. were worth $13,018,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Wells Fargo & Co. by 2.2% in the second quarter. Vanguard Group Inc. now owns 288,028,042 shares of the financial services provider’s stock worth $13,632,368,000 after buying an additional 6,247,583 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Wells Fargo & Co. by 2.8% in the second quarter. TIAA CREF Investment Management LLC now owns 29,781,903 shares of the financial services provider’s stock worth $1,409,577,000 after buying an additional 810,161 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Wells Fargo & Co. by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 24,714,185 shares of the financial services provider’s stock worth $1,169,680,000 after buying an additional 2,987,795 shares during the last quarter. Davis Selected Advisers increased its position in shares of Wells Fargo & Co. by 1.2% in the second quarter. Davis Selected Advisers now owns 24,227,545 shares of the financial services provider’s stock worth $1,146,690,000 after buying an additional 294,032 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Wells Fargo & Co. by 1.9% in the second quarter. Legal & General Group Plc now owns 23,166,689 shares of the financial services provider’s stock worth $1,096,389,000 after buying an additional 436,801 shares during the last quarter. Institutional investors own 72.76% of the company’s stock.

Shares of Wells Fargo & Co. (NYSE:WFC) traded down 1.853% on Monday, hitting $51.645. 19,891,551 shares of the stock were exchanged. The company has a 50-day moving average price of $47.64 and a 200-day moving average price of $47.87. The firm has a market capitalization of $259.38 billion, a PE ratio of 12.815 and a beta of 0.93. Wells Fargo & Co. has a one year low of $43.55 and a one year high of $56.24.

Wells Fargo & Co. (NYSE:WFC) last released its earnings results on Friday, October 14th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.02. The business earned $22.30 billion during the quarter. Wells Fargo & Co. had a net margin of 23.91% and a return on equity of 12.72%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the business posted $1.05 EPS. Equities research analysts expect that Wells Fargo & Co. will post $4.03 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 4th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Wednesday, November 2nd. Wells Fargo & Co.’s dividend payout ratio (DPR) is currently 37.44%.

WFC has been the subject of a number of research reports. Atlantic Securities downgraded Wells Fargo & Co. from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $46.15 to $44.00 in a research note on Friday, September 16th. Rafferty Capital Markets cut Wells Fargo & Co. from a “hold” rating to a “sell” rating and set a $44.00 price target on the stock. in a report on Friday, September 9th. Sandler O’Neill reaffirmed a “hold” rating on shares of Wells Fargo & Co. in a report on Friday, September 30th. Raymond James Financial Inc. cut Wells Fargo & Co. from a “market perform” rating to an “underperform” rating in a report on Tuesday, October 4th. Finally, Keefe, Bruyette & Woods set a $57.00 price target on Wells Fargo & Co. and gave the company a “buy” rating in a report on Thursday, October 13th. Nine investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $49.56.

About Wells Fargo & Co.

Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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