Empowered Funds LLC Increases Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Empowered Funds LLC raised its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 13.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 159,820 shares of the financial services provider's stock after buying an additional 19,114 shares during the quarter. Empowered Funds LLC's holdings in Wells Fargo & Company were worth $9,028,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Ellenbecker Investment Group raised its position in shares of Wells Fargo & Company by 3.9% in the 3rd quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider's stock worth $250,000 after acquiring an additional 164 shares in the last quarter. Income Research & Management acquired a new stake in Wells Fargo & Company during the third quarter worth approximately $211,000. Modera Wealth Management LLC increased its holdings in Wells Fargo & Company by 0.9% in the third quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider's stock worth $1,018,000 after purchasing an additional 167 shares in the last quarter. Catalina Capital Group LLC increased its holdings in Wells Fargo & Company by 1.7% in the third quarter. Catalina Capital Group LLC now owns 9,886 shares of the financial services provider's stock worth $558,000 after purchasing an additional 168 shares in the last quarter. Finally, John W. Brooker & Co. CPAs boosted its holdings in shares of Wells Fargo & Company by 2.5% during the 2nd quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider's stock worth $420,000 after buying an additional 171 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on WFC shares. Piper Sandler lifted their price objective on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the company a "neutral" rating in a research note on Monday, October 14th. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a "hold" rating and decreased their price target for the company from $62.00 to $59.00 in a research note on Friday, August 16th. 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. Evercore ISI boosted their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Finally, 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 report on Tuesday, October 8th. Thirteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $62.12.

Insider Transactions at Wells Fargo & Company

In other news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company 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 completion of the transaction, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. This trade represents a 26.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of the business's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the sale, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. This trade represents a 21.65 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Wells Fargo & Company Stock Performance

WFC stock traded up $1.54 during midday trading on Friday, hitting $74.34. The company's stock had a trading volume of 18,836,977 shares, compared to its average volume of 18,126,145. The stock has a market cap of $247.51 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 1.52 and a beta of 1.14. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock's 50-day moving average price is $61.17 and its 200 day moving average price is $59.30. Wells Fargo & Company has a 1 year low of $41.99 and a 1 year high of $74.41.

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

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company's dividend payout ratio is currently 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.