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:WFCGet 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.

See Also

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFCGet Rating).

Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.