Braun Stacey Associates Inc. Reduces Position in Wells Fargo & Company (NYSE:WFC)

Braun Stacey Associates Inc. lessened its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 7.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 386,865 shares of the financial services provider's stock after selling 30,700 shares during the period. Braun Stacey Associates Inc.'s holdings in Wells Fargo & Company were worth $21,854,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of WFC. Ellenbecker Investment Group raised its stake in Wells Fargo & Company by 3.9% during the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider's stock worth $250,000 after acquiring an additional 164 shares in the last quarter. Income Research & Management bought a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at about $211,000. Modera Wealth Management LLC increased its stake 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 valued at $1,018,000 after acquiring an additional 167 shares in the last quarter. Catalina Capital Group LLC increased its holdings in shares of Wells Fargo & Company by 1.7% during the third quarter. Catalina Capital Group LLC now owns 9,886 shares of the financial services provider's stock valued at $558,000 after acquiring an additional 168 shares in the last quarter. Finally, John W. Brooker & Co. CPAs lifted its stake in shares of Wells Fargo & Company by 2.5% in the second quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider's stock valued at $420,000 after buying an additional 171 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

Insider Activity at Wells Fargo & Company

In other news, EVP Beurden Saul Van sold 35,000 shares of the company'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 completion of the sale, the executive vice president now owns 126,687 shares of the company's stock, valued at approximately $7,853,327.13. This represents a 21.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company 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 transaction, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 26.83 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on WFC shares. Evercore ISI increased their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Jefferies Financial Group downgraded Wells Fargo & Company to a "hold" rating and cut their target price for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Royal Bank of Canada restated 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. Compass Point lifted their price objective on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 15th. Finally, The Goldman Sachs Group reduced their price objective on 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 assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $62.12.

Wells Fargo & Company Price Performance

NYSE WFC traded down $0.34 during trading on Monday, reaching $74.00. The company's stock had a trading volume of 9,951,047 shares, compared to its average volume of 18,089,682. The stock has a market capitalization of $246.38 billion, a PE ratio of 15.47, a P/E/G ratio of 1.55 and a beta of 1.14. 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 fifty day moving average of $61.17 and a 200 day moving average of $59.30. Wells Fargo & Company has a one year low of $42.15 and a one year high of $74.70.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.14. The business 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 period in the previous year, the business posted $1.39 earnings per share. Analysts expect that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors 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 annualized dividend and a yield of 2.16%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 33.26%.

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.