Axxcess Wealth Management LLC Boosts Holdings in Wells Fargo & Company (NYSE:WFC)

Axxcess Wealth Management LLC grew its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 22.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,033 shares of the financial services provider's stock after acquiring an additional 14,728 shares during the quarter. Axxcess Wealth Management LLC's holdings in Wells Fargo & Company were worth $4,521,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Cardinal Capital Management Inc. lifted its position in Wells Fargo & Company by 2.0% in the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider's stock valued at $32,505,000 after acquiring an additional 11,037 shares in the last quarter. Argus Investors Counsel Inc. lifted its holdings in shares of Wells Fargo & Company by 34.6% during the third quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider's stock valued at $1,780,000 after purchasing an additional 8,107 shares in the last quarter. Assetmark Inc. boosted its position in shares of Wells Fargo & Company by 5.6% during the third quarter. Assetmark Inc. now owns 382,717 shares of the financial services provider's stock valued at $21,620,000 after buying an additional 20,149 shares during the last quarter. M&G PLC boosted its position in shares of Wells Fargo & Company by 31.8% during the third quarter. M&G PLC now owns 755,930 shares of the financial services provider's stock valued at $42,332,000 after buying an additional 182,274 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. increased its holdings in Wells Fargo & Company by 111.1% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 34,464 shares of the financial services provider's stock worth $1,947,000 after buying an additional 18,138 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WFC. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 price target on the stock in a report on Tuesday, September 3rd. Evercore ISI raised their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Royal Bank of Canada reiterated 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. Jefferies Financial Group downgraded Wells Fargo & Company to a "hold" rating and dropped their price target for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Finally, Compass Point upped their price objective on Wells Fargo & Company from $57.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday, October 15th. Thirteen investment 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.com, the stock has a consensus rating of "Hold" and an average target price of $62.12.

Insider Buying and Selling

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president now owns 163,610 shares in the company, valued at $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 news, EVP Beurden Saul Van sold 35,000 shares of the company's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the sale, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of the stock in a transaction dated 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 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. 0.08% of the stock is owned by company insiders.

Wells Fargo & Company Price Performance

WFC stock traded up $2.56 during midday trading on Monday, hitting $72.60. The company's stock had a trading volume of 17,109,835 shares, compared to its average volume of 18,141,627. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 12 month low of $40.53 and a 12 month high of $74.27. The company has a 50 day moving average of $59.59 and a two-hundred day moving average of $58.83. The firm has a market capitalization of $241.72 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 1.57 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.14. The firm had revenue of $20.37 billion during 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%. Wells Fargo & Company's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.39 earnings per share. On average, analysts expect that Wells Fargo & Company will post 5.39 EPS for the current year.

Wells Fargo & Company Announces Dividend

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

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.