Daiwa Securities Group Inc. Purchases 39,021 Shares of Wells Fargo & Company (NYSE:WFC)

Daiwa Securities Group Inc. boosted its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 10.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 425,906 shares of the financial services provider's stock after acquiring an additional 39,021 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Wells Fargo & Company were worth $24,060,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mattson Financial Services LLC acquired a new position in shares of Wells Fargo & Company in the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL purchased a new position in Wells Fargo & Company in the 2nd quarter worth about $26,000. MidAtlantic Capital Management Inc. purchased a new position in Wells Fargo & Company in the 3rd quarter worth about $34,000. Valued Wealth Advisors LLC raised its holdings in 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 worth $37,000 after buying an additional 220 shares during the period. Finally, Fairscale Capital LLC purchased a new stake in Wells Fargo & Company during the second quarter valued at about $47,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 1.2 %

Shares of NYSE WFC traded up $0.92 during mid-day trading on Monday, reaching $76.88. 28,633,438 shares of the company traded hands, compared to its average volume of 18,140,387. The company's fifty day moving average is $63.74 and its two-hundred day moving average is $59.91. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. Wells Fargo & Company has a fifty-two week low of $42.52 and a fifty-two week high of $77.31. The stock has a market cap of $255.97 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.58 and a beta of 1.14.

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 EPS for the quarter, beating the consensus estimate 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 company had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter last year, the company posted $1.39 earnings per share. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. On average, analysts expect that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company's dividend payout ratio (DPR) is 33.26%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Compass Point boosted their price target on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 target price on the stock in a research note on Tuesday, September 3rd. Jefferies Financial Group cut Wells Fargo & Company to a "hold" rating and decreased their target price for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. 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. Finally, Evercore ISI lifted their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. 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's stock. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of "Hold" and an average price target of $63.07.

Insider Activity

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the firm's stock in a transaction that occurred 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 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 filing with the SEC, which is available through this link. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction that occurred 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 ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

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.