CWA Asset Management Group LLC Invests $2.30 Million in Wells Fargo & Company (NYSE:WFC)

CWA Asset Management Group LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 40,719 shares of the financial services provider's stock, valued at approximately $2,300,000.

A number of other institutional investors have also modified their holdings of the company. Mattson Financial Services LLC acquired a new stake in Wells Fargo & Company in the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company in the 2nd quarter worth approximately $26,000. Valued Wealth Advisors LLC boosted its stake in Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider's stock worth $37,000 after purchasing an additional 220 shares in the last quarter. J.Safra Asset Management Corp grew its position in Wells Fargo & Company by 704.3% during the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider's stock worth $43,000 after purchasing an additional 648 shares during the last quarter. Finally, Fairscale Capital LLC acquired a new position in Wells Fargo & Company during the 2nd quarter valued at approximately $47,000. 75.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the business's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the transaction, the executive vice president now directly owns 163,610 shares in the company, valued at $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 is available through the SEC website. In other Wells Fargo & Company news, 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 value of $3,822,000.00. Following the sale, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WFC shares. Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 price target on the stock in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods reduced their price objective on Wells Fargo & Company from $62.00 to $61.00 and set a "market perform" rating for the company in a research note on Monday, July 15th. Wolfe Research upgraded Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 target price on the stock in a research report on Tuesday, October 8th. Finally, Phillip Securities upgraded shares of Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and lifted their price objective for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. 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, the stock presently has an average rating of "Hold" and an average target price of $62.12.

Wells Fargo & Company Price Performance

Shares of WFC traded up $0.62 during trading hours on Friday, hitting $70.04. 14,270,937 shares of the stock were exchanged, compared to its average volume of 20,885,386. The stock's 50-day moving average price is $59.59 and its two-hundred day moving average price is $58.84. Wells Fargo & Company has a 12-month low of $40.27 and a 12-month high of $74.27. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $233.20 billion, a price-to-earnings ratio of 14.56, 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 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.14. The business had revenue of $20.37 billion during the quarter, compared to analysts' expectations of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company's quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.39 earnings per share. Research analysts expect that Wells Fargo & Company will post 5.39 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors 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 2.28%. Wells Fargo & Company's dividend payout ratio is presently 33.26%.

Wells Fargo & Company 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.