Kentucky Retirement Systems Has $13.40 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Kentucky Retirement Systems decreased its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 9.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 237,125 shares of the financial services provider's stock after selling 25,591 shares during the quarter. Kentucky Retirement Systems' holdings in Wells Fargo & Company were worth $13,395,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Mattson Financial Services LLC acquired a new position in shares of Wells Fargo & Company during the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL bought a new stake in Wells Fargo & Company in the second quarter worth $26,000. Valued Wealth Advisors LLC raised its holdings in Wells Fargo & Company by 53.7% during the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider's stock valued at $37,000 after buying an additional 220 shares in the last quarter. Fairscale Capital LLC acquired a new stake in shares of Wells Fargo & Company in the second quarter worth about $47,000. Finally, Beaird Harris Wealth Management LLC boosted its stake in shares of Wells Fargo & Company by 54.5% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 865 shares of the financial services provider's stock worth $51,000 after acquiring an additional 305 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded up $1.54 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. Wells Fargo & Company has a one year low of $41.99 and a one year high of $74.41. The firm has a market cap of $247.51 billion, a P/E ratio of 15.46, a price-to-earnings-growth 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 company has a fifty day moving average price of $61.17 and a 200-day moving average price of $59.30.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its 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. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business had revenue of $20.37 billion for the quarter, compared to analysts' expectations of $20.40 billion. During the same quarter in the previous year, the firm posted $1.39 earnings per share. The firm's revenue for the quarter was down 2.4% on a year-over-year basis. On average, equities analysts anticipate that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

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 issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. Wells Fargo & Company's payout ratio is presently 33.26%.

Insider Buying and Selling

In other news, EVP Beurden Saul Van sold 35,000 shares of the firm'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 owns 126,687 shares of the company's stock, valued at approximately $7,853,327.13. This trade represents a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WFC shares. The Goldman Sachs Group cut their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday, September 11th. Jefferies Financial Group cut shares of Wells Fargo & Company to a "hold" rating and reduced their price objective for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Compass Point upped their price objective on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a "neutral" rating in a report on Tuesday, October 15th. Morgan Stanley dropped their target price on shares of 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, Wolfe Research upgraded shares of Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 price target for the company in a report on Tuesday, October 8th. Thirteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $62.12.

About Wells Fargo & Company

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.