B. Metzler seel. Sohn & Co. Holding AG Acquires Shares of 208,646 Wells Fargo & Company (NYSE:WFC)

B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 208,646 shares of the financial services provider's stock, valued at approximately $11,786,000.

A number of other institutional investors and hedge funds have also made changes to their positions in WFC. Ellenbecker Investment Group increased its position in shares of Wells Fargo & Company by 3.9% in the 3rd quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider's stock worth $250,000 after purchasing an additional 164 shares during the last quarter. Income Research & Management bought a new stake in shares of Wells Fargo & Company in the 3rd quarter worth about $211,000. Modera Wealth Management LLC increased its position in shares of Wells Fargo & Company by 0.9% in the 3rd quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider's stock worth $1,018,000 after purchasing an additional 167 shares during the last quarter. Catalina Capital Group LLC increased its position in shares of Wells Fargo & Company by 1.7% in the 3rd quarter. Catalina Capital Group LLC now owns 9,886 shares of the financial services provider's stock worth $558,000 after purchasing an additional 168 shares during the last quarter. Finally, John W. Brooker & Co. CPAs increased its position in shares of Wells Fargo & Company by 2.5% in the 2nd quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider's stock worth $420,000 after purchasing an additional 171 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on WFC. The Goldman Sachs Group lowered their price objective on shares of Wells Fargo & Company from $68.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, September 11th. Citigroup boosted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a "neutral" rating in a research note on Tuesday. Phillip Securities raised shares of Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and boosted their target price for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Jefferies Financial Group lowered shares of Wells Fargo & Company to a "hold" rating and reduced their target price for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Finally, Compass Point boosted 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. Thirteen 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. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $63.07.

Wells Fargo & Company Price Performance

Shares of NYSE WFC traded down $0.66 during midday trading on Tuesday, reaching $73.43. The company's stock had a trading volume of 15,404,354 shares, compared to its average volume of 18,115,592. Wells Fargo & Company has a one year low of $42.15 and a one year high of $74.70. The company has a 50 day moving average price of $61.56 and a 200 day moving average price of $59.40. 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 cap of $244.48 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 1.55 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating 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 business had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same quarter in the previous year, the business earned $1.39 earnings per share. The firm's revenue was down 2.4% compared to the same quarter last year. On average, equities research analysts expect that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. Wells Fargo & Company's dividend payout ratio is currently 33.26%.

Insider Activity

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 shares were sold at an average price of $61.99, for a total value of $2,169,650.00. Following the transaction, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. This represents a 21.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of the company's 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 owns 163,610 shares in the company, valued at approximately $10,421,957. This represents a 26.83 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

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.