Colonial River Investments LLC Makes New $780,000 Investment in Wells Fargo & Company (NYSE:WFC)

Colonial River Investments LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 13,807 shares of the financial services provider's stock, valued at approximately $780,000.

Several other large investors have also bought and sold shares of WFC. Dimensional Fund Advisors LP raised its position in 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 purchasing an additional 831,975 shares during the last quarter. National Pension Service raised its position in Wells Fargo & Company by 15.2% in the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider's stock valued at $383,532,000 after purchasing an additional 897,195 shares during the last quarter. 1832 Asset Management L.P. raised its position in 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 purchasing an additional 2,349,595 shares during the last quarter. First Pacific Advisors LP raised its position in 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 purchasing an additional 108,480 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in 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 purchasing an additional 1,415,647 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Wells Fargo & Company

In related news, EVP Ather Williams III sold 60,000 shares of the business'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 sale, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Ather Williams III sold 60,000 shares of the business'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 sale, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the business's stock in a transaction dated Monday, October 14th. The stock was 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 of the company's stock, valued at approximately $7,853,327.13. The trade was 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 corporate insiders.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded up $0.62 during mid-day trading on Friday, reaching $70.04. 14,270,937 shares of the company's stock were exchanged, compared to its average volume of 20,588,524. The business's fifty day simple moving average is $59.59 and its 200 day simple moving average is $58.84. The firm has a market capitalization of $233.20 billion, a PE ratio of 14.56, a P/E/G ratio of 1.63 and a beta of 1.14. Wells Fargo & Company has a one year low of $40.27 and a one year high of $74.27. 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 (NYSE:WFC - Get Free Report) last issued 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 firm had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business's revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.39 earnings per share. On average, sell-side analysts expect that Wells Fargo & Company will post 5.39 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be paid 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 2.28%. Wells Fargo & Company's payout ratio is 33.26%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on WFC shares. Jefferies Financial Group downgraded Wells Fargo & Company to a "hold" rating and dropped their target price for the company from $62.00 to $59.00 in a research report on Friday, August 16th. Piper Sandler raised their price objective on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. Wolfe Research upgraded Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 price objective for the company in a research report on Tuesday, October 8th. Phillip Securities upgraded Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and raised their price objective for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Finally, The Goldman Sachs Group lowered their price objective on 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. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of "Hold" and a consensus price target of $62.12.

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.