Wells Fargo & Company (NYSE:WFC) Holdings Lifted by Welch Group LLC

Welch Group LLC grew its position in Wells Fargo & Company (NYSE:WFC) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,360 shares of the financial services provider’s stock after purchasing an additional 194 shares during the period. Welch Group LLC’s holdings in Wells Fargo & Company were worth $1,207,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Wells Fargo & Company by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock valued at $1,178,591,000 after acquiring an additional 831,975 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings 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 acquiring an additional 2,349,595 shares in the last quarter. First Pacific Advisors LP boosted its holdings in shares of Wells Fargo & Company by 2.1% in the second quarter. First Pacific Advisors LP now owns 5,278,666 shares of the financial services provider’s stock valued at $313,500,000 after acquiring an additional 108,480 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Wells Fargo & Company by 38.1% in the first quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock valued at $297,411,000 after acquiring an additional 1,415,647 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Wells Fargo & Company by 1.0% in the first quarter. Russell Investments Group Ltd. now owns 4,662,953 shares of the financial services provider’s stock valued at $270,035,000 after acquiring an additional 48,419 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 1.3 %

WFC stock traded up $0.82 during midday trading on Monday, reaching $65.35. The company had a trading volume of 1,817,681 shares, compared to its average volume of 18,005,895. Wells Fargo & Company has a 1 year low of $38.69 and a 1 year high of $65.95. 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 company has a market capitalization of $227.83 billion, a P/E ratio of 13.25, a PEG ratio of 1.46 and a beta of 1.16. The company has a 50 day moving average of $57.60 and a two-hundred day moving average of $58.26.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly 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 net margin of 14.43% and a return on equity of 12.25%. The company had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same quarter in the prior year, the business posted $1.39 EPS. Wells Fargo & Company’s quarterly revenue was down 2.4% on a year-over-year basis. On average, equities research analysts expect that Wells Fargo & Company will post 5.36 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced 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 of this dividend is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.45%. Wells Fargo & Company’s payout ratio is presently 32.85%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WFC shares. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a report on Tuesday, October 8th. Morgan Stanley cut their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. Keefe, Bruyette & Woods cut their target price on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Compass Point increased their target price 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. Finally, BMO Capital Markets increased their target price on shares of 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. Thirteen equities research 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.82.

Insider Activity at Wells Fargo & Company

In related 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 value of $3,822,000.00. Following the transaction, the executive vice president now directly 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 filing with the SEC, which is available through this link. In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction on 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. 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 the SEC website. Also, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

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.