Wells Fargo & Company (NYSE:WFC) Shares Purchased by Plato Investment Management Ltd

Plato Investment Management Ltd grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,565 shares of the financial services provider’s stock after buying an additional 2,119 shares during the period. Plato Investment Management Ltd’s holdings in Wells Fargo & Company were worth $4,208,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in WFC. Koshinski Asset Management Inc. bought a new position in Wells Fargo & Company in the first quarter worth about $577,000. TBH Global Asset Management LLC boosted its position in shares of Wells Fargo & Company by 19.1% during the first quarter. TBH Global Asset Management LLC now owns 6,382 shares of the financial services provider’s stock worth $370,000 after buying an additional 1,022 shares during the period. Kingsview Wealth Management LLC boosted its position in Wells Fargo & Company by 25.9% during the 1st quarter. Kingsview Wealth Management LLC now owns 80,161 shares of the financial services provider’s stock worth $4,646,000 after acquiring an additional 16,492 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in Wells Fargo & Company by 4.2% in the first quarter. Orion Portfolio Solutions LLC now owns 134,127 shares of the financial services provider’s stock worth $7,774,000 after purchasing an additional 5,388 shares during the period. Finally, Leo Wealth LLC increased its stake in Wells Fargo & Company by 5.3% during the 1st quarter. Leo Wealth LLC now owns 4,747 shares of the financial services provider’s stock valued at $275,000 after buying an additional 241 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were 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 in the company, valued at approximately $10,421,957. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the company’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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on Wednesday, October 16th. The shares were 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 approximately $10,421,957. This represents 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 Price Performance

NYSE WFC opened at $72.79 on Thursday. 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 firm has a market capitalization of $242.35 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 1.51 and a beta of 1.14. The company has a 50 day simple moving average of $60.15 and a 200-day simple moving average of $59.01. Wells Fargo & Company has a 52-week low of $41.46 and a 52-week high of $74.27.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping 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 company 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 EPS. The company’s revenue was down 2.4% compared to the same quarter last year. Equities research analysts predict that Wells Fargo & Company will post 5.42 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

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 paid a $0.40 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.20%. Wells Fargo & Company’s payout ratio is 33.26%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their target price for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Compass Point upped their price target on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, October 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group reduced their target price on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Thirteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and an average price target of $62.12.

Wells Fargo & Company 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.