Deseret Mutual Benefit Administrators Sells 610 Shares of Wells Fargo & Company (NYSE:WFC)

Deseret Mutual Benefit Administrators lowered its position in Wells Fargo & Company (NYSE:WFC) by 5.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,423 shares of the financial services provider’s stock after selling 610 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Wells Fargo & Company were worth $589,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of WFC. Dimensional Fund Advisors LP boosted its position in shares of Wells Fargo & Company by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock worth $1,178,591,000 after purchasing an additional 831,975 shares in the last quarter. National Pension Service lifted its position in Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after acquiring an additional 897,195 shares during the period. 1832 Asset Management L.P. lifted its position in Wells Fargo & Company by 67.1% during the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock worth $339,226,000 after acquiring an additional 2,349,595 shares during the period. First Pacific Advisors LP lifted its position in Wells Fargo & Company by 2.1% during the 2nd quarter. First Pacific Advisors LP now owns 5,278,666 shares of the financial services provider’s stock worth $313,500,000 after acquiring an additional 108,480 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in Wells Fargo & Company by 38.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock worth $297,411,000 after acquiring an additional 1,415,647 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $71.40 on Thursday. The firm has a market capitalization of $237.73 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.44 and a beta of 1.14. The business’s fifty day moving average price is $59.11 and its 200 day moving average price is $58.72. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. Wells Fargo & Company has a 12 month low of $40.27 and a 12 month high of $74.27.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter in the prior year, the firm earned $1.39 earnings per share. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.36 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s payout ratio is currently 33.26%.

Analyst Upgrades and Downgrades

WFC has been the subject of several recent analyst reports. Compass Point lifted their price target on Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group cut their price target on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, September 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 research note on Wednesday, October 30th. BMO Capital Markets boosted their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Tuesday, September 3rd. Thirteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and an average price target of $62.12.

Insider Transactions at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Beurden Saul Van sold 35,000 shares of the company’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 transaction, the executive vice president now owns 126,687 shares of the company’s stock, valued at $7,853,327.13. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ather Williams III sold 60,000 shares of the company’s 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 directly owns 163,610 shares in the company, valued at $10,421,957. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

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.