Secure Asset Management LLC Invests $256,000 in Wells Fargo & Company (NYSE:WFC)

Secure Asset Management LLC purchased a new position in Wells Fargo & Company (NYSE:WFC) during the 3rd quarter, HoldingsChannel reports. The fund purchased 4,537 shares of the financial services provider’s stock, valued at approximately $256,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bleakley Financial Group LLC lifted its stake in Wells Fargo & Company by 10.3% in the 3rd quarter. Bleakley Financial Group LLC now owns 68,411 shares of the financial services provider’s stock worth $3,865,000 after purchasing an additional 6,367 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of Wells Fargo & Company by 2.5% in the third quarter. Global Retirement Partners LLC now owns 59,847 shares of the financial services provider’s stock valued at $3,381,000 after purchasing an additional 1,434 shares during the last quarter. Good Life Advisors LLC lifted its position in Wells Fargo & Company by 5.7% during the third quarter. Good Life Advisors LLC now owns 11,797 shares of the financial services provider’s stock worth $666,000 after buying an additional 637 shares in the last quarter. nVerses Capital LLC boosted its stake in Wells Fargo & Company by 46.3% during the third quarter. nVerses Capital LLC now owns 18,000 shares of the financial services provider’s stock worth $1,017,000 after buying an additional 5,700 shares during the last quarter. Finally, One Wealth Advisors LLC grew its holdings in Wells Fargo & Company by 1.3% in the 3rd quarter. One Wealth Advisors LLC now owns 25,213 shares of the financial services provider’s stock valued at $1,424,000 after buying an additional 329 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $64.37 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a 52-week low of $38.58 and a 52-week high of $64.78. The firm has a market cap of $224.41 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. The company’s 50 day moving average is $56.50 and its two-hundred day moving average is $57.99.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.14. The business had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the firm earned $1.39 earnings per share. On average, research analysts expect that Wells Fargo & Company will post 5.12 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 32.85%.

Analyst Ratings Changes

WFC has been the topic of several recent research reports. Compass Point boosted their price target on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday. BMO Capital Markets increased their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and reduced their price target for the company from $62.00 to $59.00 in a research report on Friday, August 16th. Evercore ISI increased their price objective on Wells Fargo & Company from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their target price for the company from $60.83 to $65.00 in a research report on Tuesday. Thirteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $61.82.

Insider Transactions at Wells Fargo & Company

In related news, EVP Ather Williams III sold 60,000 shares of the firm’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 value of $3,822,000.00. Following the sale, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value of $3,822,000.00. Following the transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $61.99, for a total value of $2,169,650.00. Following the completion of the sale, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

About Wells Fargo & Company

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.