Transform Wealth LLC Boosts Position in Wells Fargo & Company (NYSE:WFC)

Transform Wealth LLC boosted its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 117.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 228,595 shares of the financial services provider's stock after acquiring an additional 123,326 shares during the period. Wells Fargo & Company accounts for approximately 0.9% of Transform Wealth LLC's portfolio, making the stock its 24th largest holding. Transform Wealth LLC's holdings in Wells Fargo & Company were worth $12,913,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of WFC. Vontobel Holding Ltd. grew its position in Wells Fargo & Company by 106.8% during the third quarter. Vontobel Holding Ltd. now owns 48,233 shares of the financial services provider's stock worth $2,725,000 after buying an additional 24,911 shares in the last quarter. Sumitomo Life Insurance Co. grew its holdings in shares of Wells Fargo & Company by 2.4% during the third quarter. Sumitomo Life Insurance Co. now owns 43,307 shares of the financial services provider's stock worth $2,446,000 after purchasing an additional 1,030 shares in the last quarter. Sunpointe LLC bought a new position in shares of Wells Fargo & Company in the third quarter worth approximately $204,000. PFG Advisors raised its stake in Wells Fargo & Company by 3.6% in the third quarter. PFG Advisors now owns 101,761 shares of the financial services provider's stock valued at $5,748,000 after purchasing an additional 3,536 shares in the last quarter. Finally, Iams Wealth Management LLC lifted its position in Wells Fargo & Company by 8.8% during the third quarter. Iams Wealth Management LLC now owns 35,145 shares of the financial services provider's stock valued at $1,985,000 after purchasing an additional 2,835 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 1.4 %

Shares of WFC traded up $0.86 on Wednesday, reaching $63.89. The stock had a trading volume of 17,396,176 shares, compared to its average volume of 18,078,439. The firm has a market capitalization of $222.74 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. The company has a 50-day simple moving average of $55.81 and a 200-day simple moving average of $57.86. Wells Fargo & Company has a 12-month low of $38.58 and a 12-month high of $64.08. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $20.37 billion during 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 company's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.39 earnings per share. Sell-side analysts predict that Wells Fargo & Company will post 5.12 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were paid a dividend of $0.40 per share. This is a positive change 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 2.50%. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company's dividend payout ratio (DPR) is currently 32.85%.

Insider Transactions at Wells Fargo & Company

In other Wells Fargo & Company news, 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 completion of the transaction, the executive vice president now owns 126,687 shares of the company's stock, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on WFC shares. Phillip Securities raised Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and increased their target price for the company from $60.83 to $65.00 in a research note on Tuesday. Wolfe Research raised Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 price objective on the stock in a report on Tuesday, October 8th. Piper Sandler upped their target price on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a "neutral" rating in a research note on Monday. Compass Point lifted their price target on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a "neutral" rating in a research note on Tuesday. Finally, Morgan Stanley cut their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an "overweight" rating for the company in a research note on Monday, September 30th. Thirteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of "Hold" and an average 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.