Insider Selling: Wells Fargo & Company (NYSE:WFC) EVP Sells 35,000 Shares of Stock

Wells Fargo & Company (NYSE:WFC) EVP Beurden Saul Van sold 35,000 shares of the business's stock in a transaction dated 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 sale, the executive vice president now owns 126,687 shares of the company's stock, valued at $7,853,327.13. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Wells Fargo & Company Stock Performance

Shares of WFC stock traded up $0.88 on Tuesday, hitting $63.04. 24,687,186 shares of the stock traded hands, compared to its average volume of 18,081,809. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market capitalization of $219.78 billion, a PE ratio of 13.07, a PEG ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a 1-year low of $38.58 and a 1-year high of $63.82. The company's fifty day moving average is $55.59 and its 200 day moving average is $57.82.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.14. The business had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business's revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.39 EPS. On average, equities research analysts predict that Wells Fargo & Company will post 5.12 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were paid a dividend of $0.40 per share. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date was Friday, August 9th. Wells Fargo & Company's dividend payout ratio is presently 32.85%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP grew its stake in shares of Wells Fargo & Company by 3,295.6% in the second quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider's stock worth $138,493,000 after purchasing an additional 2,404,898 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in Wells Fargo & Company by 67.1% during the first quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider's stock valued at $339,226,000 after buying an additional 2,349,595 shares in the last quarter. Rokos Capital Management LLP boosted its stake 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 valued at $151,853,000 after buying an additional 1,536,152 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Wells Fargo & Company by 38.1% during the first quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider's stock valued at $297,411,000 after buying an additional 1,415,647 shares in the last quarter. Finally, UniSuper Management Pty Ltd boosted its stake in Wells Fargo & Company by 378.5% during the first quarter. UniSuper Management Pty Ltd now owns 1,198,987 shares of the financial services provider's stock valued at $69,493,000 after buying an additional 948,422 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on WFC shares. 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 report on Friday, August 16th. Piper Sandler boosted their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a "neutral" rating in a research report on Monday. The Goldman Sachs Group reduced their price target on Wells Fargo & Company from $68.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 price target on the stock in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday. Thirteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $61.82.

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.

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