Cynosure Group LLC Acquires 54,026 Shares of Wells Fargo & Company (NYSE:WFC)

Cynosure Group LLC lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 101.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 107,158 shares of the financial services provider's stock after purchasing an additional 54,026 shares during the quarter. Wells Fargo & Company makes up about 0.9% of Cynosure Group LLC's holdings, making the stock its 23rd biggest position. Cynosure Group LLC's holdings in Wells Fargo & Company were worth $6,053,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Tidal Investments LLC boosted its stake in shares of Wells Fargo & Company by 20.8% during the 1st quarter. Tidal Investments LLC now owns 88,063 shares of the financial services provider's stock worth $5,103,000 after acquiring an additional 15,139 shares in the last quarter. Beacon Capital Management LLC boosted its position in Wells Fargo & Company by 18.2% during the first quarter. Beacon Capital Management LLC now owns 1,316 shares of the financial services provider's stock worth $76,000 after purchasing an additional 203 shares during the period. Rokos Capital Management LLP boosted its position in Wells Fargo & Company by 141.6% during the first quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider's stock worth $151,853,000 after purchasing an additional 1,536,152 shares during the period. Highlander Capital Management LLC grew its holdings in Wells Fargo & Company by 4.9% during the first quarter. Highlander Capital Management LLC now owns 15,698 shares of the financial services provider's stock valued at $910,000 after purchasing an additional 730 shares during the last quarter. Finally, Strategic Wealth Partners Ltd. bought a new position in shares of Wells Fargo & Company in the first quarter valued at approximately $201,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Trading Up 0.5 %

Shares of WFC opened at $77.31 on Wednesday. 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 stock has a market cap of $257.40 billion, a PE ratio of 16.07, a PEG ratio of 1.60 and a beta of 1.14. Wells Fargo & Company has a 1 year low of $42.52 and a 1 year high of $78.13. The stock has a 50 day simple moving average of $64.20 and a 200-day simple moving average of $60.01.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.14. The firm had revenue of $20.37 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 earnings per share. On average, sell-side analysts predict that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company 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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company's dividend payout ratio is currently 33.26%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WFC. Citigroup raised 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, November 19th. Compass Point lifted their price objective on Wells Fargo & Company from $57.00 to $60.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 15th. Royal Bank of Canada reissued a "sector perform" rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Morgan Stanley lowered their target price on Wells Fargo & Company from $68.00 to $67.00 and set an "overweight" rating on the stock in a report on Monday, September 30th. Finally, Jefferies Financial Group lowered Wells Fargo & Company to a "hold" rating and cut their price target for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Thirteen 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $63.07.

Insider Buying and Selling at Wells Fargo & Company

In related news, EVP Ather Williams III sold 60,000 shares of the firm'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 completion of the sale, the executive vice president now directly owns 163,610 shares of the company's stock, valued at $10,421,957. This trade represents a 26.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the business's stock in a transaction on 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 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 represents a 21.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company's stock.

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.

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