Blueport Capital L.P. Buys 7,513 Shares of Wells Fargo & Co (WFC)

Blueport Capital L.P. lifted its holdings in Wells Fargo & Co (NYSE:WFC) by 94.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,463 shares of the financial services provider’s stock after purchasing an additional 7,513 shares during the quarter. Wells Fargo & Co accounts for approximately 8.3% of Blueport Capital L.P.’s investment portfolio, making the stock its 6th largest position. Blueport Capital L.P.’s holdings in Wells Fargo & Co were worth $810,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA grew its holdings in shares of Wells Fargo & Co by 5.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 50,957,630 shares of the financial services provider’s stock valued at $2,670,689,000 after purchasing an additional 2,497,659 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Wells Fargo & Co by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 46,311,774 shares of the financial services provider’s stock valued at $2,803,705,000 after purchasing an additional 584,764 shares in the last quarter. Magellan Asset Management Ltd grew its holdings in shares of Wells Fargo & Co by 5.1% in the fourth quarter. Magellan Asset Management Ltd now owns 25,007,676 shares of the financial services provider’s stock valued at $1,517,216,000 after purchasing an additional 1,222,262 shares in the last quarter. Boston Partners grew its holdings in shares of Wells Fargo & Co by 10.1% in the first quarter. Boston Partners now owns 18,850,437 shares of the financial services provider’s stock valued at $987,951,000 after purchasing an additional 1,732,956 shares in the last quarter. Finally, Longview Partners Guernsey LTD grew its holdings in shares of Wells Fargo & Co by 6.8% in the fourth quarter. Longview Partners Guernsey LTD now owns 17,250,127 shares of the financial services provider’s stock valued at $1,046,565,000 after purchasing an additional 1,103,390 shares in the last quarter. 76.04% of the stock is owned by hedge funds and other institutional investors.

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In other news, EVP Petros G. Pelos sold 25,567 shares of Wells Fargo & Co stock in a transaction on Thursday, May 24th. The stock was sold at an average price of $54.76, for a total transaction of $1,400,048.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by company insiders.

A number of research analysts recently weighed in on WFC shares. Vetr raised shares of Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $54.10 target price for the company in a report on Thursday, April 5th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $57.00 target price on shares of Wells Fargo & Co in a report on Thursday, April 5th. UBS Group raised shares of Wells Fargo & Co from a “neutral” rating to a “buy” rating and set a $55.00 target price for the company in a report on Thursday, April 5th. Zacks Investment Research downgraded Wells Fargo & Co from a “hold” rating to a “sell” rating in a research report on Monday, April 9th. Finally, Vining Sparks restated a “buy” rating and issued a $65.00 price target on shares of Wells Fargo & Co in a research report on Friday, April 13th. Six analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Wells Fargo & Co presently has an average rating of “Hold” and an average price target of $61.82.

NYSE:WFC opened at $53.94 on Friday. Wells Fargo & Co has a twelve month low of $49.27 and a twelve month high of $66.31. The firm has a market cap of $265.74 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.47 and a beta of 1.12. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.27.

Wells Fargo & Co (NYSE:WFC) last released its earnings results on Friday, April 13th. The financial services provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.05. Wells Fargo & Co had a return on equity of 12.46% and a net margin of 22.80%. The business had revenue of $21.93 billion during the quarter, compared to the consensus estimate of $21.74 billion. During the same period last year, the company earned $1.00 earnings per share. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. sell-side analysts anticipate that Wells Fargo & Co will post 4.57 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Friday, May 4th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, May 3rd. This represents a $1.56 annualized dividend and a dividend yield of 2.89%. Wells Fargo & Co’s dividend payout ratio (DPR) is 37.96%.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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