Wells Fargo & Company (NYSE:WFC) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its stake in Wells Fargo & Company (NYSE:WFC) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,861,166 shares of the financial services provider’s stock after selling 403,905 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Wells Fargo & Company worth $444,077,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Mattson Financial Services LLC purchased a new position in shares of Wells Fargo & Company during the 2nd quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at $26,000. Valued Wealth Advisors LLC lifted its stake in Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 220 shares in the last quarter. J.Safra Asset Management Corp boosted its holdings in Wells Fargo & Company by 704.3% during the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 648 shares during the period. Finally, Fairscale Capital LLC acquired a new stake in shares of Wells Fargo & Company during the second quarter worth about $47,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $72.60 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a 50 day simple moving average of $59.87 and a 200-day simple moving average of $58.92. The company has a market cap of $241.72 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 1.57 and a beta of 1.14. Wells Fargo & Company has a 12-month low of $40.53 and a 12-month high of $74.27.

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. The company had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.39 EPS. On average, equities analysts forecast that Wells Fargo & Company will post 5.39 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be issued a $0.40 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Compass Point increased their target price on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, October 15th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 14th. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Tuesday, October 8th. Finally, Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price objective for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Thirteen equities research 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $62.12.

Insider Activity

In related news, EVP Beurden Saul Van sold 35,000 shares of the firm’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 value of $2,169,650.00. Following the completion of the transaction, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $7,853,327.13. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 126,687 shares in the company, valued at $7,853,327.13. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company 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 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 position. The disclosure for this sale can be found here. 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.