United Asset Strategies Inc. grew its stake in shares of Wells Fargo & Company (NYSE:WFC – Free Report) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,993 shares of the financial services provider’s stock after acquiring an additional 199 shares during the period. United Asset Strategies Inc.’s holdings in Wells Fargo & Company were worth $2,259,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in WFC. Ellenbecker Investment Group grew its holdings in Wells Fargo & Company by 3.9% during the 3rd quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock valued at $250,000 after buying an additional 164 shares in the last quarter. Income Research & Management bought a new stake in Wells Fargo & Company during the 3rd quarter worth approximately $211,000. Modera Wealth Management LLC lifted its stake in Wells Fargo & Company by 0.9% in the 3rd quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 167 shares in the last quarter. John W. Brooker & Co. CPAs lifted its stake in Wells Fargo & Company by 2.5% in the 2nd quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock worth $420,000 after purchasing an additional 171 shares in the last quarter. Finally, McAdam LLC boosted its holdings in Wells Fargo & Company by 3.3% in the 2nd quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 178 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on WFC shares. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price target for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. BMO Capital Markets raised their price target on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Evercore ISI boosted their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and decreased their price objective for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, July 15th. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $62.12.
Insider Activity at Wells Fargo & Company
In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the transaction, the executive vice president now owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the transaction, the executive vice president now owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction 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 transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.
Wells Fargo & Company Trading Down 1.0 %
NYSE:WFC traded down $0.63 during trading hours on Thursday, hitting $64.78. The company had a trading volume of 2,683,958 shares, compared to its average volume of 17,969,092. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a 50-day moving average price of $58.16 and a 200 day moving average price of $58.44. The company has a market capitalization of $220.50 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a 52 week low of $39.24 and a 52 week high of $66.39.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last announced its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same quarter in the previous year, the firm posted $1.39 EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities research analysts predict that Wells Fargo & Company will post 5.36 EPS for the current fiscal year.
Wells Fargo & Company Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s payout ratio is presently 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.
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