Mercer Global Advisors Inc. ADV Sells 53,276 Shares of Wells Fargo & Company (NYSE:WFC)

Mercer Global Advisors Inc. ADV cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 20.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 204,616 shares of the financial services provider’s stock after selling 53,276 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Wells Fargo & Company were worth $9,817,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of Wells Fargo & Company by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 66,036,650 shares of the financial services provider’s stock valued at $3,056,547,000 after acquiring an additional 1,916,314 shares during the period. Invesco Ltd. grew its stake in Wells Fargo & Company by 7.1% during the 3rd quarter. Invesco Ltd. now owns 41,077,680 shares of the financial services provider’s stock worth $1,906,415,000 after buying an additional 2,710,324 shares during the last quarter. Capital World Investors purchased a new position in Wells Fargo & Company during the 3rd quarter worth $1,046,312,000. Dimensional Fund Advisors LP grew its stake in Wells Fargo & Company by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 17,436,578 shares of the financial services provider’s stock worth $809,311,000 after buying an additional 63,959 shares during the last quarter. Finally, Boston Partners grew its stake in Wells Fargo & Company by 39.8% during the 3rd quarter. Boston Partners now owns 15,675,969 shares of the financial services provider’s stock worth $727,759,000 after buying an additional 4,462,674 shares during the last quarter. Institutional investors and hedge funds own 69.01% of the company’s stock.

NYSE:WFC traded up $0.53 on Tuesday, reaching $47.70. 502,525 shares of the company’s stock were exchanged, compared to its average volume of 32,682,367. The business has a fifty day moving average of $51.45 and a 200-day moving average of $51.15. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.95. Wells Fargo & Company has a 52-week low of $41.47 and a 52-week high of $60.30. The firm has a market capitalization of $181.34 billion, a price-to-earnings ratio of 9.94, a price-to-earnings-growth ratio of 1.13 and a beta of 1.15.

Wells Fargo & Company (NYSE:WFC – Get Rating) last released its earnings results on Thursday, April 14th. The financial services provider reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.08. Wells Fargo & Company had a net margin of 25.35% and a return on equity of 12.20%. The firm had revenue of $17.59 billion for the quarter, compared to analyst estimates of $17.82 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that Wells Fargo & Company will post 4.02 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 1st. Investors of record on Friday, February 4th were paid a dividend of $0.25 per share. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Thursday, February 3rd. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 20.79%.

Several analysts have weighed in on WFC shares. BMO Capital Markets dropped their price target on Wells Fargo & Company from $64.00 to $60.00 and set a “market perform” rating on the stock in a research note on Monday. Morgan Stanley dropped their price target on Wells Fargo & Company from $72.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, March 28th. Atlantic Securities upgraded Wells Fargo & Company from a “neutral” rating to an “overweight” rating and set a $60.00 price target on the stock in a research note on Tuesday, February 1st. Barclays boosted their price target on Wells Fargo & Company from $62.00 to $64.00 in a research note on Monday. Finally, Citigroup raised Wells Fargo & Company from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $58.00 to $56.00 in a report on Monday, April 11th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $58.78.

Wells Fargo & Company Company Profile (Get Rating)

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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