Wells Fargo & Company (NYSE:WFC) Shares Sold by Marathon Asset Management Ltd

Marathon Asset Management Ltd lessened its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 56.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 178,238 shares of the financial services provider's stock after selling 229,060 shares during the quarter. Marathon Asset Management Ltd's holdings in Wells Fargo & Company were worth $10,068,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in WFC. Mattson Financial Services LLC purchased a new position in shares of Wells Fargo & Company in the second quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Wells Fargo & Company in the second quarter worth approximately $26,000. Valued Wealth Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 53.7% in the second 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 last quarter. J.Safra Asset Management Corp boosted its holdings in shares of Wells Fargo & Company by 704.3% in the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider's stock worth $43,000 after buying an additional 648 shares during the last quarter. Finally, Fairscale Capital LLC purchased a new position in shares of Wells Fargo & Company in the second quarter worth approximately $47,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Insiders Place Their Bets

In related news, EVP Ather Williams III sold 60,000 shares of the firm's stock in a transaction 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 sale, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction dated 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 transaction, the executive vice president now directly owns 126,687 shares of the company's stock, valued at $7,853,327.13. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the transaction, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on WFC shares. Phillip Securities raised shares of Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and raised their price objective for the stock from $60.83 to $65.00 in a report on Tuesday. Morgan Stanley decreased 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 research note on Monday, September 30th. Royal Bank of Canada restated a "sector perform" rating and set a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday. Wolfe Research upgraded shares of Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 target price on the stock in a research note on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Wells Fargo & Company from $62.00 to $61.00 and set a "market perform" rating on the stock in a research note on Monday, July 15th. 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. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $61.82.

Wells Fargo & Company Trading Down 0.0 %

NYSE WFC traded down $0.01 on Friday, hitting $64.37. 19,232,881 shares of the stock were exchanged, compared to its average volume of 18,069,352. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a fifty day moving average price of $56.27 and a two-hundred day moving average price of $57.94. The firm has a market capitalization of $224.41 billion, a P/E ratio of 13.28, a P/E/G ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a 52-week low of $38.58 and a 52-week high of $64.78.

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

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.49%. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. Wells Fargo & Company's dividend payout ratio (DPR) is 32.85%.

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.