Aljian Capital Management LLC Purchases New Position in Wells Fargo & Company (NYSE:WFC)

Aljian Capital Management LLC bought a new position in Wells Fargo & Company (NYSE:WFC - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,075 shares of the financial services provider's stock, valued at approximately $513,000.

Other large investors also recently added to or reduced their stakes in the company. Canoe Financial LP acquired a new position in Wells Fargo & Company in the 3rd quarter valued at $160,529,000. Marshall Wace LLP raised its stake in shares of Wells Fargo & Company by 3,295.6% in the second 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 in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Wells Fargo & Company by 67.1% during the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider's stock worth $339,226,000 after acquiring an additional 2,349,595 shares during the period. Rokos Capital Management LLP boosted its holdings in Wells Fargo & Company by 141.6% during 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 purchasing an additional 1,536,152 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Wells Fargo & Company by 38.1% in the 1st 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 buying an additional 1,415,647 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WFC has been the subject of several recent analyst reports. Wolfe Research raised 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. Compass Point boosted their price objective 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. Morgan Stanley dropped their price target on Wells Fargo & Company from $68.00 to $67.00 and set an "overweight" rating on the stock in a research report on Monday, September 30th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Finally, Jefferies Financial Group cut Wells Fargo & Company to a "hold" rating and lowered their target price for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Thirteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $62.12.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded down $0.25 during mid-day trading on Monday, hitting $74.09. 18,310,411 shares of the company's stock traded hands, compared to its average volume of 18,127,684. 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 50 day simple moving average of $61.56 and a two-hundred day simple moving average of $59.40. Wells Fargo & Company has a fifty-two week low of $42.15 and a fifty-two week high of $74.70. The stock has a market cap of $246.68 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 1.55 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted 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 analysts' expectations of $20.40 billion. During the same quarter last year, the company posted $1.39 EPS. Wells Fargo & Company's quarterly revenue was down 2.4% compared to the same quarter last year. On average, research analysts expect that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be given 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 dividend yield of 2.16%. Wells Fargo & Company's payout ratio is presently 33.26%.

Insiders Place Their Bets

In other Wells Fargo & Company news, 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 value of $3,822,000.00. Following the sale, the executive vice president now owns 163,610 shares of the company's stock, valued at approximately $10,421,957. This trade represents a 26.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, 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 shares were 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 owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was a 21.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company's stock.

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.