Lazari Capital Management Inc. Sells 256 Shares of Wells Fargo & Company (NYSE:WFC)

Lazari Capital Management Inc. decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,703 shares of the financial services provider’s stock after selling 256 shares during the period. Lazari Capital Management Inc.’s holdings in Wells Fargo & Company were worth $1,170,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Marshall Wace LLP boosted its holdings in Wells Fargo & Company by 3,295.6% in the 2nd quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock valued at $138,493,000 after purchasing an additional 2,404,898 shares during the period. 1832 Asset Management L.P. lifted its stake in shares of Wells Fargo & Company by 67.1% in the first quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock valued at $339,226,000 after buying an additional 2,349,595 shares during the period. Rokos Capital Management LLP lifted its stake in shares of Wells Fargo & Company by 141.6% in the first quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock valued at $151,853,000 after buying an additional 1,536,152 shares during the period. Canada Pension Plan Investment Board grew its position in Wells Fargo & Company by 38.1% during the first quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock worth $297,411,000 after buying an additional 1,415,647 shares in the last quarter. Finally, UniSuper Management Pty Ltd increased its stake in Wells Fargo & Company by 378.5% during the first quarter. UniSuper Management Pty Ltd now owns 1,198,987 shares of the financial services provider’s stock valued at $69,493,000 after acquiring an additional 948,422 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Wells Fargo & Company news, 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 transaction of $2,169,650.00. Following the completion of the sale, 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Wells Fargo & Company 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 transaction, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company 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 sale, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $7,853,327.13. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $64.81 on Wednesday. Wells Fargo & Company has a 1 year low of $38.58 and a 1 year high of $65.21. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The firm’s 50 day moving average is $56.98 and its 200-day moving average is $58.11. The firm has a market capitalization of $225.95 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.46 and a beta of 1.16.

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

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.47%. Wells Fargo & Company’s dividend payout ratio is 32.85%.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of research reports. Morgan Stanley reduced their price objective on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Evercore ISI raised their target price 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. Compass Point increased their price objective on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, October 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 14th. Finally, Keefe, Bruyette & Woods dropped their price target 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 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 company. According to MarketBeat, Wells Fargo & Company has an average rating of “Hold” and an average price target of $61.82.

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.