Forsta AP Fonden Purchases 53,900 Shares of Wells Fargo & Company (NYSE:WFC)

Forsta AP Fonden raised its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 6.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 870,800 shares of the financial services provider's stock after acquiring an additional 53,900 shares during the quarter. Forsta AP Fonden's holdings in Wells Fargo & Company were worth $49,191,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Income Research & Management acquired a new stake in Wells Fargo & Company during the 3rd quarter valued at approximately $211,000. Mattson Financial Services LLC acquired a new stake in Wells Fargo & Company during the 2nd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company during the 2nd quarter valued at approximately $26,000. Valued Wealth Advisors LLC increased its position in Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 220 shares during the period. Finally, J.Safra Asset Management Corp grew its position in shares of Wells Fargo & Company by 704.3% during the 1st 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 period. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

WFC stock traded down $0.90 during midday trading on Friday, reaching $64.53. The company had a trading volume of 14,855,494 shares, compared to its average volume of 18,084,012. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. Wells Fargo & Company has a 1 year low of $38.62 and a 1 year high of $65.95. The company has a market capitalization of $219.65 billion, a P/E ratio of 13.42, a P/E/G ratio of 1.46 and a beta of 1.16. The firm has a 50-day moving average price of $57.60 and a 200-day moving average price of $58.25.

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 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 14.43% and a return on equity of 12.25%. The company had revenue of $20.37 billion during the quarter, compared to analysts' expectations of $20.40 billion. During the same quarter in the prior year, the company earned $1.39 EPS. The firm's revenue was down 2.4% on a year-over-year basis. On average, research analysts anticipate that Wells Fargo & Company will post 5.36 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be issued a $0.40 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.48%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 33.26%.

Wall Street Analysts Forecast Growth

WFC has been the subject of several recent analyst reports. 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 research report on Tuesday, October 15th. Jefferies Financial Group cut shares of Wells Fargo & Company to a "hold" rating and reduced their price objective for the company from $62.00 to $59.00 in a report on Friday, August 16th. Compass Point lifted their price objective on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, October 15th. Royal Bank of Canada restated a "sector perform" rating and set a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Finally, BMO Capital Markets boosted their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a "market perform" rating in a report on Thursday, July 11th. Thirteen equities research 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 stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $61.82.

Insiders Place Their Bets

In related news, EVP Ather Williams III sold 60,000 shares of the 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 directly owns 163,610 shares in the company, valued at $10,421,957. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction dated 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 directly owns 163,610 shares of the company's stock, valued at approximately $10,421,957. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the firm's 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 sale, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company's stock.

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.