IFM Investors Pty Ltd Has $39.79 Million Stake in Wells Fargo & Company (NYSE:WFC)

IFM Investors Pty Ltd lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 704,449 shares of the financial services provider’s stock after selling 9,991 shares during the period. IFM Investors Pty Ltd’s holdings in Wells Fargo & Company were worth $39,794,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Global Assets Advisory LLC acquired a new position in Wells Fargo & Company during the first quarter worth about $2,638,000. Brookstone Capital Management boosted its position in Wells Fargo & Company by 6.9% in the first quarter. Brookstone Capital Management now owns 19,476 shares of the financial services provider’s stock valued at $1,129,000 after buying an additional 1,263 shares in the last quarter. Sovereign Financial Group Inc. acquired a new position in shares of Wells Fargo & Company during the first quarter worth $218,000. Key Client Fiduciary Advisors LLC lifted its stake in shares of Wells Fargo & Company by 25.0% in the 1st quarter. Key Client Fiduciary Advisors LLC now owns 6,390 shares of the financial services provider’s stock valued at $370,000 after acquiring an additional 1,278 shares during the last quarter. Finally, Revolve Wealth Partners LLC acquired a new position in Wells Fargo & Company in the 1st quarter worth about $229,000. 75.90% of the stock is owned by institutional investors.

Insider Transactions at Wells Fargo & Company

In related news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the transaction, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $2,169,650.00. Following the transaction, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $7,853,327.13. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC stock traded up $0.29 during trading on Thursday, reaching $64.85. 6,298,785 shares of the company’s stock traded hands, compared to its average volume of 18,041,061. Wells Fargo & Company has a 1 year low of $38.58 and a 1 year high of $65.21. The firm’s 50-day moving average is $57.20 and its 200 day moving average is $58.15. 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 company has a market capitalization of $226.09 billion, a P/E ratio of 13.32, a PEG ratio of 1.46 and a beta of 1.16.

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

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.47%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 32.85%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on WFC shares. BMO Capital Markets upped their price objective on 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. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price target for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods cut their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. Finally, Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Tuesday, October 8th. Thirteen analysts have rated the stock with a hold rating, eight have issued 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 currently has an average rating of “Hold” and an average target price of $61.82.

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.