Dai ichi Life Insurance Company Ltd Has $6.85 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Dai ichi Life Insurance Company Ltd decreased its stake in Wells Fargo & Company (NYSE:WFC) by 14.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 121,177 shares of the financial services provider's stock after selling 20,000 shares during the period. Dai ichi Life Insurance Company Ltd's holdings in Wells Fargo & Company were worth $6,845,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mattson Financial Services LLC bought a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at about $26,000. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at about $29,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at about $34,000. Finally, Valued Wealth Advisors LLC boosted its position in shares of Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 220 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Insiders Place Their Bets

In other Wells Fargo & Company 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 value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Beurden Saul Van sold 35,000 shares of the firm'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 of the company's stock, valued at $7,853,327.13. The trade was a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.08% of the company's stock.

Wells Fargo & Company Stock Performance

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 company has a market capitalization of $257.40 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.60 and a beta of 1.14. The stock has a 50 day moving average of $64.20 and a 200 day moving average of $60.01. Wells Fargo & Company has a 12 month low of $42.52 and a 12 month high of $78.13.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same period last year, the business posted $1.39 earnings per share. The business's revenue for the quarter was down 2.4% on a year-over-year basis. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis 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%.

Analyst Upgrades and Downgrades

WFC has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 target price on the stock in a research report on Tuesday, September 3rd. Wolfe Research upgraded Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 price target on the stock in a report on Tuesday, October 8th. Morgan Stanley cut their price target 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. Piper Sandler increased their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. Finally, Royal Bank of Canada reissued 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. Thirteen investment 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. Based on data from MarketBeat, Wells Fargo & Company has an average rating of "Hold" and a consensus price target of $63.07.

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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