Teachers Retirement System of The State of Kentucky Has $57.06 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Teachers Retirement System of The State of Kentucky boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 105.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,010,101 shares of the financial services provider’s stock after purchasing an additional 518,524 shares during the period. Wells Fargo & Company accounts for approximately 0.5% of Teachers Retirement System of The State of Kentucky’s portfolio, making the stock its 25th largest position. Teachers Retirement System of The State of Kentucky’s holdings in Wells Fargo & Company were worth $57,060,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of WFC. Income Research & Management acquired a new position in shares of Wells Fargo & Company during the third quarter valued at about $211,000. Mattson Financial Services LLC bought a new stake in Wells Fargo & Company in the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Wells Fargo & Company in the 2nd quarter valued at $26,000. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter worth about $29,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at about $34,000. 75.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Citigroup boosted their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Keefe, Bruyette & Woods boosted their target price on shares of Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 3rd. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and dropped their price objective for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft raised 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. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $67.49.

Insider Activity at Wells Fargo & Company

In other news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the sale, the executive vice president now owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This represents a 26.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $61.99, for a total value of $2,169,650.00. Following the transaction, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. The trade was a 21.65 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $72.05 on Wednesday. The firm has a market capitalization of $239.89 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The firm’s fifty day moving average price is $67.71 and its two-hundred day moving average price is $60.88. Wells Fargo & Company has a 1 year low of $45.57 and a 1 year high of $78.13.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The firm had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter in the previous year, the business earned $1.39 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. As a group, research analysts anticipate that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s payout ratio is 33.26%.

Wells Fargo & 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.